Bank of Korea To Create Virtual Asset Team

South Korea’s central bank will launch a virtual asset committee to monitor the crypto market and have rejected and named its central bank digital currency (CBDC) team to actively discover the digital currency.

Yun Hop News reported on Tuesday, a bank of Korea official said its virtual asset team would also be responsible for responding to “Stabrickins and Virtual Asset debates” and “cooperating with the government” during the legislative process.

South Korean banks attracted the Stable Queens to the country’s currency, one, and the proposed Establishment legislation, which was introduced by lawmakers, was allegedly the main driver behind the creation of a new team.

Crypto is popular among South Korean residents, and last month, the country selected Lee J. Meong as president and accepted the sector when it fled to a Crypto -pro -platform, which included the permission of Stable Queens and Crypto Exchange Trade Funds.

CBDC Research Team changed name

Central Bank’s Digital Currency Research Team, which is researching CBDC -related projects, has been renamed “Digital Currency Team”.

The name change was to highlight that the team was a practical business department that is actively looking for digital currency measures rather than focusing on ideological research, a Bok official said.

Two other teams have also been named, which is now taking a mantle of the digital currency technology team responsible for digital currency research and investigation, and the digital currency infrastructure team, which has a deposit token -based digital voucher management platform for developing a platform.

CBDC tests postponed, but can return soon

The Bank of Korea postponed its CBDC test on June 29, as the country’s government received support for local currency Establishment and banks expressed concerns about the cost of participating.