The Bank of Korea is launching a Virtual Asset Committee aimed at overseeing the crypto market, which signifies a proactive regulatory approach. This committee will actively handle matters concerning stablecoins.
The central bank has restructured its digital currency teams, now focusing on practical applications rather than theoretical research, reshaping its operations to emphasize a hands-on approach to digital currency initiatives.
Despite delaying its CBDC test until 2025, the Digital Currency Team will continue exploring CBDC projects, indicating a commitment to digital currency evolution in South Korea.
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