South Korea Central Bank (Shit), bitcoin $83,728.44(BTC) announced that it will not keep it as an external reserve asset. It is not appropriate to include the world’s 11th largest economy in foreign exchange reserves due to high volatility in Bitcoin, Central Bank. SHIT, Bitcoin A National Assembly Strategy and Finance Committee member announced the written question for the written question.
Why doesn’t shit see Bitcoin as a reserve asset?
According to Korea Economic Daily, Bok says Bitcoin has great risks in terms of financial stability. In this direction Crypto Money MarketIt is stated that high price fluctuations may lead to significant cost increases in the sale process. This situation will make the liquidity management difficult of the central bank.
Moreover International Monetary Fund (IMF) Foreign exchange reserve management rules did not see Bitcoin as an appropriate asset was also effective in the decision. The IMF recommends that central banks manage foreign exchange reserves in a way to “carefully control liquidity, credit and market risks in the market”. Bitcoin, Bitcoin does not meet these criteria.
On a single screen instant prices, important data, news, latest developments, comments and discussions at Chat! Come right away from your eyes!
Other countries and South Korea’s crypto monetary policies
US President Donald TrumpOn March 6, he ordered the creation of Bit Strategic Bitcoin Reserve ır consisting of BTCs seized with the decree he signed. This decision of some countries Bitcoin reservesraised the idea of creating ni. However, leading financial institutions such as Japan, Switzerland and the European Central Bank are distant to this approach. South Korea is now among these countries.
However, South Korea recently draws attention with the steps it has taken to soften the crypto currency regulations in the application. Regulatory and supervisory institutions in the country for corporate investors Crypto Money Trade He plans to gradually remove his ban. In addition, a second legal regulation package is preparing. In this package, it is expected to focus on the control of stablecoins.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
