The CBDC Direction of Korea Central Bank

Per an article in The Korea Times on Monday, the Bank of Korea (BOK) said the six-person panel, comprised of legal experts in the financial and IT sectors, as well as one specializing in fintech, would provide guidance and advice to the bank as it develops and tests a central bank digital currency (CBDC).

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The Bank of Korea

South Korea’s central bank is moving ahead with research into digital currencies and has set up a legal panel to advise on possible regulatory sticking points. “We established the advisory group to discuss legal issues surrounding a CBDC and figure out which laws need to be revised or enacted for smooth progress in the the Bank of Korea’s possible issuance of digital currency,” a BOK official told.

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