Tagged: bank of korea

South Korea’s Financial Services Commission and Reserve Bank are Reportedly Arguing Over Adoption of New Fintech Regulations

Seoul South Korea mathew schwartz unsplash

South Korea’s Financial Services Commission (FSC) has proposed several legislative updates that could potentially give it more control over payment settlements in the Fintech sector. The Bank of Korea (BOK), the nation’s central bank, has stated that these proposed guidelines would create redundant regulations. As… Read More

CBDCs: Bank of Korea Is Reportedly Planning to Issue and Circulate a Central Bank Digital Currency in 2021

Korea Won Moneyjpg

The Bank of Korea (BOK), the reserve bank of the Republic of Korea and issuer of South Korean won, is reportedly planning to issue and circulate a central bank digital currency (CBDC) by next year. As first reported by the Korean Times, the BOK will… Read More

CBDCs: South Korean Reserve Bank Appoints Legal Team to Explore Feasability of Issuing a Digital Currency

mathew schwartz Unsplash South Korea Creator of Language

South Korea’s reserve bank has reportedly appointed a six-member legal advisory team to look into the feasibility and potential benefits of issuing a central bank digital currency (CBDC). The Korean central bank’s advisory group includes three university professors, two legal experts, and a senior official… Read More

Bank of Korea Says Central Bank Cryptocurrency Would Cause Cash Shortages and Escalating Interest Rates

Gyeongbokgung royal palace in northern Seoul Korea. First constructed in 1394 it was reconstructed in 1867

Bankers at Korea’s central bank, the Bank of Korea, have issued one of the most decisive warnings against the creation of a central bank-backed cryptocurrency so far, The Korea Times reports. International Monetary Fund head Christine Lagarde called last year for an “even-handed approach” to… Read More

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