S. Korea’s Central Bank Says It Won’t Issue a Digital Currency in Near Future

South Korea’s central bank, the Bank of Korea (BOK), says it won’t be issuing a central bank digital currency (CBDC) in the near term, local English-language newspaper the Korea Herald reports Jan. 29.

Having conducted a study into the prospects for domestic CBDC issuance, the BOK has reportedly concluded there is no urgent need to pursue such a project in the close future. An unnamed BOK official told the Korea Herald that the study was focused on examining the possible legal and social effectiveness of CBDCs from a wide perspective, adding that:

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