Bank of Korea Renames CBDC Team as It Explores Stablecoin and Digital Currency Possibilities
Main Idea
The Bank of Korea has renamed its CBDC research teams and formed a new Virtual Asset Committee to focus on practical CBDC development and stablecoin regulations, while postponing its retail CBDC test due to bank concerns.
Key Points
1. The Bank of Korea renamed its Digital Currency Research Team to the Digital Currency Team and formed a Virtual Asset Committee to oversee crypto market and stablecoin developments.
2. The retail CBDC test, originally scheduled for April to June 2025, was postponed due to concerns over participation costs voiced by banks.
3. The Digital Currency Team will continue CBDC-related projects and may resume testing once regulatory clarity is achieved.
4. Korean banks are expected to play a role in stablecoin issuance by late 2025 or early 2026.
5. The Bank of Korea's new approach emphasizes practical CBDC development and stablecoin regulations, reflecting a shift in focus.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! South Korea’s Bank
Latest News
- Kraken’s Q2 Growth Highlights Potential $15 Billion Valuation and Shift Toward TradFi Products2025-07-30 23:50:49
- Solana and Newer Blockchains May Be Better Positioned Than Bitcoin for Quantum Computing Threats2025-07-30 23:50:06
- White House Digital Asset Report Released with No Major Updates on Bitcoin Reserve Plan2025-07-30 23:37:50
- Polkadot (DOT) Holds Key Support Zone With Potential for Breakout Toward $30+ If Structure Maintains2025-07-30 23:12:37
- Invesco and Galaxy Digital File for Spot Solana ETF, Signaling Potential Institutional Interest2025-07-30 23:11:42