The Central Bank of South Korea does not buy the (popular) idea of including bitcoin in its store in the exchange of foreign currencies, citing the volatility of intense prices in the encrypted currency and the lack of recognition as a reserve asset under international standards.
This cautious approach, according to a report of his foot Korea HeraldBok provides for the increasing number of global financial institutions that are frequented by encryption in their strategic property.
South Korea is not interested in a crypto reserve. Image: Gemini Imagen.
BTC exclusion from foreign exchange reserves
Actor CH Gyu-EGUN from the Planning and Financial Committee in the National Assembly inquired about the idea of combining the main encryption into the country’s reserves, prompting Bok to respond.
The Central Bank made it clear that he had not reviewed or discussed such a step, and it is firmly Reject impractical. Officials note that BTC does not meet the standards of the International Monetary Fund (IMF) of the reserve assets, which include credit classification at the investment level, ease of use, and liquidity.
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Central Bank in South Korea
Refuses the idea of creating a file
Bitcoin strategic reserves. pic.twitter.com/ag5n7amovfAshcryptoreal March 17, 2025
The bank looks Bitcoin Not suitable for foreign exchange properties due to price fluctuations and weakness in market speculation.
Increased global interest in bitcoin reserves
Modern global developments contradictly contradict Central bank position caution. It should be noted that the United States has proven an increasing interest in Bitcoin, as US President Donald Trump recently called for a strategic bitcoin reserve.
Other countries, such as El Salvador, have already included bitcoin in their financial scheme, depending on their long -term promise as a hedge against traditional currency risks.
Meanwhile, legislators and supporters of cryptocurrencies in the local scene argue that South Korea must consider the use of bitcoin as a means of economic diversification.
Stablecoin suggestion
Some even suggested the creation of Stablecoin backed by national currency, in order to maintain the competitive advantage of South Korea in the scene of the changing fast digital assets.
However, the Book Egypt Other highly liquid and credit assets as well as important commercial partner currencies should form most foreign exchange reserves.
South Korea was in the process of developing the regulatory frameworks for the exchange of cryptocurrencies and the circulation of digital assets, despite its doubts about Bitcoin as a backup asset.
Distinctive image from Gemini Imagen, the tradingvief chart
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