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Bank of Korea: Crypto Will Be Used as an Investment Tool

Amy Liu

Summary: South Korea’s central bank, the Bank of Korea (BOK), published a report entitled “The possibility of a paradigm shift in the financial sector brought about by digital innovation”. It talks about the role crypto may play in the economy of the nation going forward, and questioning whether bitcoin (BTC) and altcoins could “replace legal currencies” ...

South Korea’s central bank, the Bank of Korea (BOK), published a report entitled “The possibility of a paradigm shift in the financial sector brought about by digital innovation”. It talks about the role crypto may play in the economy of the nation going forward, and questioning whether bitcoin (BTC) and altcoins could “replace legal currencies” in the years to come.

The BOK’s researchers forecasted that cryptoassets would continue to be of interest to the private sector in the future, where it would operate as an “investment and speculative” vehicle.

By Amy Liu

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