South Korea has asked crypto exchanges to comply with new regulatory requests. Should the exchanges complete the process by June, the country’s first regulated exchange could launch near the beginning of Q3 2021.Read more
The South Korean central bank expressed concern that the trading of cryptocurrency could place the entire country’s financial system at risk.Read more
South Korea’s central bank is planning to conduct a mock test on the functionality of a central bank digital currency (CBDC), according to reports.
The primary purpose of the test is to check whether the CBDC can serve settlement and remittance for the purchase of goods and services.
With phase one of its central bank digital currency (CBDC) experiment complete, the Bank of Korea (BOK) is looking forward to testing the token distribution system in 2021.
Despite the ongoing CBDC trials, South Korea’s central bank says it is not looking to launch a sovereign digital currency.Read more