Bank of Korea – DIGIT INFO

Bank of Korea to Launch CBDC Payment Trial in Supermarkets

DIGIT — Sun, 22 Sep 2024 08:46:20 +0000

South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test. Retail partnerships and global initiatives like Project Agora highlight the broader impact of […]

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Bank of Korea given right to investigate local crypto firms: Report

DIGIT — Mon, 24 Apr 2023 04:28:03 +0000

The South Korean central bank will be able to access crypto transaction data from exchanges operating in the country.

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Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

DIGIT — Sat, 22 Apr 2023 07:19:56 +0000

The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator […]

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Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China

DIGIT — Tue, 10 Jan 2023 22:30:28 +0000

A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According to a study […]

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Nifty News: Royalty-enforcing NFTs a ‘new asset class,’ South Korea buys NFTs with CBDC, and more

DIGIT — Tue, 08 Nov 2022 04:49:41 +0000

The CEO of NFT marketplace Magic Eden said NFT creators “need a sustained revenue model” and with “no way” of currently enforcing royalties a “new asset class” could emerge to enforce them.

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Samsung to Aid Bank of Korea in Central Bank Digital Currency Pilot Program

DIGIT — Mon, 16 Aug 2021 19:30:30 +0000

Samsung, the Korean tech giant, has decided to participate in a central bank digital currency (CBDC) program that is being carried out by the Bank of Korea. The company will be testing the feasibility of using these new instruments in its lineup of Galaxy phones, specifically assessing the possibility of making offline payments between peers. […]

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Bank of Korea Seeking Technology to Develop Digital Currency

DIGIT — Tue, 25 May 2021 08:30:47 +0000

South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot […]

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Bank of Korea to Monitor Crypto Transactions Using Financial Records

DIGIT — Sat, 15 May 2021 02:00:29 +0000

South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk to the country’s financial system. South Korean Central Bank to Intensify Screening of Crypto-Related […]

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Bank of Korea wants to monitor crypto trading activity, cites monetary risks

DIGIT — Thu, 13 May 2021 10:41:00 +0000

South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country.

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Bitcoin Has No Intrinsic Value, Asset Is Too Volatile, Says Bank of Korea Governor

DIGIT — Thu, 25 Feb 2021 00:30:04 +0000

Bank of Korea Governor Lee Ju-yeol has said that crypto assets like bitcoin have no intrinsic value – put simply, a measure of what an asset is actually worth. ● Speaking in the National Assembly on Feb. 23, Lee forecast that bitcoin (BTC) will see increased price swings going forward, the local news agency Yonhap […]

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