Yesterday, the
Korea Times reported that the Bank of Korea (BOK) has no immediate plans to issue a government-controlled digital currency or central bank digital currency (CBDC).
Although Bitcoin was released at the depths of the 2008 economic crisis, to date it has not triggered concerns by central banks, who repeatedly say cryptocurrencies do not present a “systemic risk”. However, when Facebook unveiled plans for a global digital currency or stablecoin,
Libra, existing discussions about national currencies seemed to accelerate, particularly in China.
“Our view is that most Korean people do not feel difficulty in making transactions with current payment methods. Under the circumstance, we do not have to be in a hurry to catch up with the latest trend whose security and stability have not been confirmed,” an official in charge of digital payment research at BOK told Korea Times.
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