cryptonews 2025-03-16 23:30:00

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 .

Enim loetud uudised

Markets are preparing for the most volatile d...
2025-03-17
Ethereum Approaches Key Support Level: Insigh...
2025-03-17
Solana (SOL) Recovers Slightly; BinoFi (BINO)...
2025-03-17
Bitfarms stock dips despite $110m acquisition
2025-03-17
Hashdex Seeks to Expand U.S. Crypto ETF to In...
2025-03-17
Why This New Solana Meme Coin Could Surpass B...
2025-03-17
Solana Holds Bullish Pattern – Expert Sets $1...
2025-03-17
Urgent Dollar Alert: Economic Worries Intensi...
2025-03-17

Seotud uudised

Secret Service Launches Operation Targeting Allege...
17 Mar 2025
Market Data Reveals 4 Cryptocurrencies Poised for...
17 Mar 2025
Putin and Trump Set to Discuss Ukraine Issue: Prep...
17 Mar 2025
Brazil Moves to Regulate Bitcoin Salaries while So...
17 Mar 2025
80% Surge for This Cryptocurrency After Binance Li...
17 Mar 2025
CAKE Surges 40% as PancakeSwap’s Daily Volume Outp...
17 Mar 2025

Loe lahtiütlusest : Kogu meie veebisaidi, hüperlingitud saitide, seotud rakenduste, foorumite, ajaveebide, sotsiaalmeediakontode ja muude platvormide ("Sait") siin esitatud sisu on mõeldud ainult teie üldiseks teabeks, mis on hangitud kolmandate isikute allikatest. Me ei anna meie sisu osas mingeid garantiisid, sealhulgas täpsust ja ajakohastust, kuid mitte ainult. Ükski meie poolt pakutava sisu osa ei kujuta endast finantsnõustamist, õigusnõustamist ega muud nõustamist, mis on mõeldud teie konkreetseks toetumiseks mis tahes eesmärgil. Mis tahes kasutamine või sõltuvus meie sisust on ainuüksi omal vastutusel ja omal äranägemisel. Enne nende kasutamist peate oma teadustööd läbi viima, analüüsima ja kontrollima oma sisu. Kauplemine on väga riskantne tegevus, mis võib põhjustada suuri kahjusid, palun konsulteerige enne oma otsuse langetamist oma finantsnõustajaga. Meie saidi sisu ei tohi olla pakkumine ega pakkumine