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South Korea's Central Bank Launched A New Pilot Program For A Central Bank Digital Currency

Ramsey Baker

Summary: The central bank of South Korea has rolled out a new pilot program for a central bank digital currency (CBDC), due to concerns that other nations might take the lead if it sits on the sidelines. The Bank of Korea (BOK) announced Monday that it would be reevaluating the CBDC proposal after finding that other ...

The central bank of South Korea has rolled out a new pilot program for a central bank digital currency (CBDC), due to concerns that other nations might take the lead if it sits on the sidelines.

The Bank of Korea (BOK) announced Monday that it would be reevaluating the CBDC proposal after finding that other developed nations, including neighboring Japan and its close ally the U.S., were moving forward with their own digital currency plans faster than anticipated.

By Ramsey Baker

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