Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13105
Markets: 101189
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino
Market Cap
24h Vol
13105
Cryptocurrencies
60.37%
Bitcoin Share
cryptonews 2025-03-16 23:30:00

South Korean Central Bank ‘Negative’ About Launching Strategic Bitcoin Reserve

South Korean Central Bank ‘Negative’ About Launching Strategic Bitcoin Reserve

The South Korean Central Bank, the Bank of Korea (BOK), says it is “not considering” creating a national strategic Bitcoin reserve . Per Dong-A Ilbo , the BOK has finally broken its silence on the matter of “ Bitcoin (BTC) stockpiling.” The bank said it “must be cautious” about including Bitcoin in its “foreign exchange reserves.” South Korean Strategic Bitcoin Reserve: BOK Says No? The bank was speaking on March 16 in response to a written inquiry from the lawmaker Cha Kyu-geun. BOK rules out inclusion of bitcoin in foreign exchange reserves https://t.co/5oHaYp2vom — Yonhap News Agency (@YonhapNews) March 16, 2025 Cha is a member of the Rebuilding Korea Party (aka the Cho Kuk Innovation Party). He also sits on the National Assembly’s Planning and Finance Committee. “We have not discussed or reviewed the inclusion of Bitcoin in our foreign exchange reserves. If the virtual asset market becomes unstable, we are concerned that transaction costs will increase quickly for those trying to convert Bitcoin to fiat.” Bank of Korea The BOK added that BTC does not currently meet IMF foreign exchange reserve calculation standards. It claimed that foreign exchange reserves “should be available for immediate use, whenever they are needed.” The former headquarters of the Bank of Korea in downtown Seoul, South Korea. (Source: ::::=UT=:::: [CC BY-SA 3.0]) And the BOK sad that while key political figures in some countries “such as the Czech Republic and Brazil” have “expressed positive opinions” about creating national strategic Bitcoin reserves, governments elsewhere are less keen. The South Korean central bank noted that “the European Central Bank, the Swiss National Bank, and the Japanese government have all expressed negative opinions” about the idea of stockpiling BTC. South Korea’s financial regulator is set to introduce crypto investment guidelines for institutions, charities, and public firms by Q3 2025. #SouthKorea #CryptoInvestments https://t.co/lyA9mweAK6 — Cryptonews.com (@cryptonews) March 12, 2025 Politicians Eager to Court Voters With Crypto Pledges The question of whether Seoul should launch a South Korean strategic Bitcoin reserve has been hotly debated in recent weeks. The Democratic Party (DP)’s policy unit floated the idea of adding Bitcoin to the foreign exchange reserve portfolio earlier this month . South Koreans could go to the polls later this year to choose a new President, should the impeachment of incumbent Yoon Seok-yul prove successful. Sensing the need to court younger voters in the event of a 2025 election, the DP and leading figures from the rival People Power Party have already begun making pro-crypto policy statements in recent weeks. The Rebuilding Korea Party, meanwhile, has 12 seats in the National Assembly. The Assembly is still dominated by the DP, which holds 170 seats. The post South Korean Central Bank ‘Negative’ About Launching Strategic Bitcoin Reserve appeared first on Cryptonews .

Most Read News

Market Cap
24h Vol
60.37%
Bitcoin Share
303
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.