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Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition
22.4.2023
The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make...
Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China
10.1.2023
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China....
Nifty News: Royalty-enforcing NFTs a 'new asset class,' South Korea buys NFTs with CBDC, and more
8.11.2022
The CEO of NFT marketplace Magic Eden said NFT creators “need a sustained revenue model” and with “no way” of currently enforcing royalties a “new asset class” could emerge to enforce them
Bank of Korea Tested NFT Trading, Remittances With CBDC: Report
7.11.2022
The central bank has completed a 10-month-long experiment of a digital South Korean won
Bank of Korea completes first phase of digital currency pilot
24.1.2022
The second phase of the CBDC mock testing is expected to complete by June this year
Samsung to Aid Bank of Korea in Central Bank Digital Currency Pilot Program
16.8.2021
Samsung, the Korean tech giant, has decided to participate in a central bank digital currency (CBDC) program that is being carried out by the Bank of Korea. The company will be testing the feasibility of using these new instruments in its lineup of Galaxy phones, specifically assessing...
Bank of Korea selects Kakao’s blockchain arm for digital won tests
20.7.2021
ConsenSys, a major Ethereum software company, will contribute its technology to South Korean CBDC simulations led by Ground X
Bank of Korea Seeking Technology to Develop Digital Currency
25.5.2021
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic...
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
Bank of Korea wants to monitor crypto trading activity, cites monetary risks
13.5.2021
South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country
Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor
25.2.2021
Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin have no intrinsic value – put simply, a measure of what an asset is actually worth. ● Speaking in the National Assembly on Feb. 23, Lee forecast that bitcoin (BTC) will see increased price swings going forward...
Bank of Korea chief says crypto has no intrinsic value, expects volatility
23.2.2021
Bank of Korea Governor Lee Ju-yeol has expressed skepticism over the recent crypto rally, stating that the bank is progressing with a digital currency project
Bank of Korea: CBDCs Are Fiat Currency Not Virtual Assets
8.2.2021
Some legal changes would be needed before a potential central bank digital currency launch in South Korea, research indicates
Bank of Korea publishes book on central bank digital currency's legal issues
8.2.2021
South Korea's central bank has issue a book on legal matters that would need to be addressed to ensure the smooth operations and usefulness of a future central bank digital currency
Bank of Korea digital won pilot moving to distribution phase next year
7.10.2020
The South Korean central bank is on track with its CBDC pilot program, but still insists it has no current plans to launch
South Korea’s Central Bank Starts Technical Phase for Digital Currency Ahead of 2021 Pilot
31.8.2020
The Bank of Korea is seeking a partner to help develop the architecture for a potential central bank digital currency
Bank of Korea Launches a Department Devoted to Blockchain and AI
22.7.2020
Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency
Korea’s Central Bank Forms Legal Panel to Advise on Possible Digital Currency Launch
15.6.2020
The Bank of Korea has set up a legal panel to advise on possible regulatory sticking points for a future CBDC issuance
Advances in Blockchain Drives Banks Toward Digital Currencies, Says Bank of Korea
19.5.2020
Advances in payment settlements and decentralized ledger technology are driving central banks to consider digital currencies, according to a recent Bank of Korea report
South Korea's Central Bank Launches Digital Currency Pilot Program
6.4.2020
South Korea's central bank is undertaking a CBDC pilot program, although it currently believes the need to issue a digital currency is slim