No Stablecoin Mention: Bank Of Korea’s New Governor Signals CBDC Push
The newly appointed Governor of the Bank of Korea (BOK) has delivered his first policy address in office, highlighting central bank digital currencies (CBDCs) and bank-issued deposit tokens while skipping any mention of stablecoins, despite South Korea’s efforts to develop a related framework and establish a local market. Related Reading: Coinbase Launches Crypto-Backed USDC Loans […]
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Russia has advanced a key crypto bill on its first reading, as part of its efforts to establish a framework and fully bring the digital assets market out of the shadows in the next few months. Related Reading: No Stablecoin Mention: Bank Of Korea’s New Governor Signals CBDC Push Russia Moves To Regulate Crypto Market […]
According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded.
Central Bank Mulls Delaying CBDC Rollout
The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has suggested the lack of access to smartphones of more than half of Kenya’s mobile phone users is working against its plan to launch a CBDC. He warned the central bank may be forced to delay its....
South Korea’s KB Financial has completed a Proof-of-Concept (PoC) for won-denominated stablecoin as lawmakers and experts push to advance the country’s digital asset framework. Related Reading: Hacker Drains $11.58 Million From Verus-Ethereum Bridge KB Stablecoin Pilot Cuts Fees, Speeds Transfers On Sunday, KB Financial Group, the parent company of South Korea’s largest bank, announced that […]
Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability.
BON Researching CBDCs
The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored.
In remarks published by Namibia Daily News, Gawaxab hinted....
South Korea’s central bank has expressed caution over the potential consequences of issuing won-pegged crypto stablecoins, raising concerns that their adoption could inadvertently boost demand for US dollar-backed stablecoins. Bank of Korea (BOK) Governor Lee Chang-yong warned that such developments may undermine broader monetary policy goals and complicate foreign exchange management. Related Reading: Coinbase Introduces […]