March 17, 2025
11 11 11 AM
Latest Post
Hashdex Seeks to Expand U.S. Crypto ETF to Include Litecoin, XRP and Other Altcoins Tokenization Specialists Securitize and Ethena Unveil Institutional DeFi Blockchain Canary Capital Files for SUI ETF After Reserve Deal With World Liberty Financial Hello, Hoodi: Ethereum Welcomes a New Testnet Sam Altman’s World Network and Razer Want to Defeat Gaming’s Bot Problem The U.S. Deserves Better Crypto ETFs. Let’s Start With Solana Developer Consensus May Be Converging on a Bitcoin Soft Fork Proposal: Blockspace Who Is Satoshi? Benjamin Wallace Goes Down the Rabbit Hole in New Book Robinhood Brings Prediction Market Hub to Market After Success of Crypto-Based Polymarket Bitcoin Network Hashrate Inched Higher in March as Mining Economics Weakened: JPMorgan

South Korea Cuts Out Bitcoin Strategic Reserve Considerations: Report

South Korea’s central bank, the Bank of Korea (BOK), has taken a cautious stance on including bitcoin in its foreign exchange reserves, per a Korea Economic Daily report.

In response to a question posed by a member of the National Assembly’s Strategy and Finance Committee, the BOK made it clear on Sunday that it has not entertained the notion of embracing BTC.

The primary deterrent for the BOK is bitcoin’s notorious price instability, where the central bank fears that the wild swings in the crypto market could substantially inflate transaction costs when converting bitcoin to cash, posing a significant risk to its reserves.

The BOK further pointed out that bitcoin fails to meet the International Monetary Fund’s (IMF) foreign exchange reserve management standards. The IMF emphasizes the importance of prudently managing liquidity, market, and credit risks — criteria that bitcoin, with its erratic nature, does not satisfy.

South Korea enjoys a flourishing crypto ecosystem, with local startups, tokens, exchanges and firms contributing billions of dollars in daily trading volumes within a relatively insular crypto market.

BTC trades over $83,400 in Asian afternoon hours, down 1% over the past 24 hours.

This post was originally published on this site