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The Bank of Korea has successfully completed live cross-border payment tests using tokenized central bank reserves under the Bank for International Settlements-led Project Agora, processing transactions across six currencies and multiple payment scenarios. According to the Bank of Korea, the…
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South Korea’s first CBDC pilot has been conducted without any independent government security inspection, with participating banks relying mainly on their own pre-launch reviews before testing began. South Korean newspaper Maeil Business, citing data submitted by the Financial Supervisory Service…
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The Bank of Korea has reaffirmed that won-denominated stablecoins should initially be issued through bank-led consortiums, reinforcing its position as South Korea’s digital asset legislation remains stalled. According to local reports from Digital Asset and EDaily, the Bank of Korea…
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The Bank of Korea and participating banks have discussed operating deposit tokens on a continuous basis with the goal of establishing conditions for a formal rollout, according to briefing materials submitted by the Korea Federation of Banks to the office…
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Bank of Korea Governor Shin Hyun-song backed CBDC and deposit tokens, while leaving stablecoins out of his first speech.
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NongHyup Bank revealed that the leading banks in South Korea, including Industrial Bank of Korea, Shinhan Bank, and Woori Bank, have joined its consortium for security token offerings.
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The Bank of Korea has urged financial regulators in the region to lift the long-standing ban on initial coin offerings (ICOs).
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The Bank of Korea (BOK) has announced the successful completion of the first phase of its two-phase central bank digital currency (CBDC) pilot. The BOK has hinted that the second phase of the digital won trial is ongoing and is…
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South Korea’s central bank, the Bank of Korea (BOK), has selected Ground X, the blockchain subsidiary of internet company giant Kakao, to work with the BOK on its central bank digital currency (CBDC) project. Ground X to Build South Korea’s…
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The Bank of Korea (BOK), South Korea’s Central bank is looking to research the usefulness of launching a central bank digital currency (CBDC) through a mock test, although the apex bank is not keen on issuing a sovereign digital currency. …
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The Governor of the Bank of Korea (BOK) Lee Ju-yeol opined that adopting cryptocurrency as a means of payment came with limitations. The statement comes as company behemoths are including crypto as a payment option on their platforms. BOK Governor…
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The Korean Central Bank Governor believes the rise of CBDC will reduce demand for bitcoin (BTC) and other cryptocurrencies. CBDCs Could Hamper Bitcoin Demand In a rather interesting remark, Lee Ju-yeol, the Governor of the Bank of Korea recently state…
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South Korea’s plans for its experimental central bank digital currency (CBDC) project also includes efforts to contribute to the expanding body of knowledge dedicated to sovereign digital currencies. Meanwhile, with many CBDC pursuits cropping up across the globe, some commentators…
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South Korea’s central bank is preparing to enter the final phase of its central bank digital currency (CBDC) pilot program, as it hopes to start the distribution and testing of the digital won in 2021. South Korea to Begin CBDC…
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South Korea’s central bank has signed a memorandum of understanding (MoU) with the country’s Financial Settlement Service to take over the management of BankSign; a blockchain authentication certificate service. Central Bank Acquires BankSign According to The News Asia, the move…
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Taxing cryptocurrency income is premature and may stifle the growth of blockchain and crypto in South Korea. Cryptocurrencies, unlike fiat, have not taken root and are largely unstable. This is the view of leading South Korean economists in response to…
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