Articles for tag: Bank of Korea, Digital Currency, financial technology, pilot project, Project Han River, South Korea, tokenized deposits

South Korea Rejects Bitcoin for Foreign Reserves: Implications for the Cryptocurrency Market and Global Economy

The Bank of Korea has confirmed that it will not add Bitcoin to its foreign exchange reserves due to concerns over its price volatility, which could create high transaction costs when converting it to cash. Additionally, Bitcoin does not meet the International Monetary Fund’s guidelines for managing foreign exchange reserves. In contrast, the United States, ...