South Korea pressed pause on its central bank digital currency (CBDC) initiative, even as its new government pivoted toward promoting domestic stablecoins.
Telling banks involved that introducing won-denominated stablecoins would be ‘desirable,’ South Korea’s central bank has slowed down on any progress towards a CBDC.
In the meantime, Hong Kong is rolling out a regulatory framework for stablecoin issuance aimed at challenging U.S. dollar dominance and bolstering its own financial infrastructure.
Both countries reinforce a common perception: crypto is here to stay, and you’ll need a top-notch crypto wallet like Best Wallet app to keep on top of everything.
South Korea: Cold Feet on CBDC, but Full Speed Ahead on Stablecoins
In a surprise move, the Bank of Korea halted the second phase of its
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