Bank Of Korea: Task Force To Research Central Bank Cryptocurrency

“A local report from today shows BOK’s intentions for developing more CBDC-orientated research groups. As included in the bank’s “Monetary Policy for 2020,” the research will target innovations, such as distributed ledger technology, cryptocurrency assets, and CBDCs.

Moreover, the Bank of Korea will organize a special task force with the sole purpose of providing a better understanding of how digital assets operate. Given the rising trend of global central banks adopting the CBDC idea, BOK will also hire additional experts:

“We will actively engage in discussions with the Bank for International Settlements (BIS) and other international organizations, keeping an eye on CBDC development at other central banks.”

The head of the central bank’s payment and settlement systems department, Hong Kyong-sik, had reportedly said that they are considering launching a digital currency of their own. The media attention expectedly increased after that, but a spokesman from the bank denied those assumptions, clarifying that ‘we just plan to strengthen our efforts for CBDC research.’”

Master Asked on December 27, 2019 in Cryptocurrency.
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