BOK on CBDC

BOK on CBDC

The Bank of Korea (BOK) is unsupportive of the Central Bank-backed Digital Currency (CBDC). A report by the bank stated, “The BOK is worrying over the concerns that such a sudden launch of the CBDC will cost society a lot and cause a moral hazard.” A researcher at the bank’s economic policy bureau stressed that virtual currencies do not resemble money.

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