In a report published on Monday, the Bank of Korea said that it was against the idea of issuing its own digital currency, as reported by The Korea Times.
"We reviewed the possible feasibility of digital currencies as currency; however, our thoughts are that digital currencies have been exposed to various categories of risk associated with credit, liquidity and legal management. Digital currencies don't perform as money," BoK's researcher Kwon Oh-ik wrote in the report and elaborated further:
"Technology improvements don't mean private sectors will be allowed to have the rights for money issuance. If this happens, the BOK should regulate them but properly."
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