Bank Korea will catch “Careful Access” Bitcoin Reserve

Korea Bank says it needs a “careful approach” potentially including Bitcoin as a foreign currency reserve.

The Korean Central Bank officials said they were in response from March 4 in a written inquiry that they were not looking at potential bitcoin (Btc) Reserve, stating high instability.

Answering the question of representative Cha Giu-Geun Committee for Planning and Finance of the Assembly, Central Bankers said that they “or discuss or revised the possible inclusion of bitcoins in foreign exchange reserves, adding that” cautious approach “” toward Korea Herald.

“The exercise in Bitcoin’s price is very high,” Central Bank noted, before adding that “in the case of marketing market in the market, transaction costs for cash Bitcoini can grow drastic.

Over the past 30 days, the prices of Bitcoin Wildly blurred between $ 98,000 and $ 76,000 before they refused to a current level of about $ 83,000 in 15% Pad from 16. February, toward For coongecko.

The decision comes in the midst of increasing global discussion on the role of crypto property in national financial strategies, which initiated the Executive Order of the American President Donald Trump earlier this month establishing a Strategic Bitcoin Reserve and a digital asset.

At the seminar 6. Marta, the crypto industry lobbyists and some members of the Democratic Party Korea called that the country integrated Bitcoin in their National reserves and develop a stewablecoin to be conquered.

However, Bank Korea emphasized that his foreign exchange reserves must have liquidity and be immediately usable when necessary, as well as credit rating of investment assessments or more, the criteria that Bitcoin does not fulfill.

Professor Yang Jun-Seok from Catholic University in Korea agreed, stating “is appropriate for foreign exchange exchanges in proportion to the proportions of the currencies of countries we trade with”

Professor Kang Tae-SOOs from Causti’s finance school commented that they will probably use Stablecoins, not BTC to hold a hegemony dollar before adding “whether the IMF will recognize stablecones as foreign currency reserves in the future.”

Related: Democrat Lawmaker calls for cash registers to stop plans of Trump Reserve

Earlier this month, the financial regulator of South Korea tested Legislative trend of the Agency for Japanese financial services according to cryptical means because it is considering the abolition of crypto prohibition on exchanges in the country.

Journal: ETH can base at $ 1,6k, SEC delays more crypt’s ETFs and more: Hodlerovo digest