South Korea Central Bank, Bitcoin $82,775.63He said he had adopted a cautious approach to include in foreign exchange reserves. Bank of Korea said that digital assets are not in line with international standards for reasons such as high price fluctuations and low liquidity. According to the statements, the lack of market value of Bitcoin and the lack of credit ratings adversely affect its suitability for reserves.
Central Bank Description
Bank of Korea, due to fluctuations in the market, Bitcoin’s investment costs may increase in transformation of cash.
Bank of Korea: “A cautious approach is needed.”
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In this context, it is stated that Bitcoin and similar crypto assets do not meet the foreign exchange reserve requirements determined by the International Monetary Fund.
INTERNATIONAL DEVELOPMENTS
While the US administration adopts the crypto asset sector, it continues to create strategic crypto asset reserves. With the regulation signed by the president, it is planned to create a reserve through the Bitcoins obtained within the scope of the seizures of the crime. David Sacks from the White House, said that this reserve will not cost taxpayers.
David Sacks’ statement, the existing crypto assets were not yet fully inspected. It is estimated that the US administration will protect crypto assets as a value -storage tool and take steps in this direction. Although different strategies adopt in inter -country practices, the US pioneering in this field can pave the way for the acceptance of Bitcoin on a global scale as a reserve presence.
The different approaches of South Korea and the United States are differences that can be considered normal in the early period. Both countries make different priorities in market stability and financial security issues. For this reason, the USA is formed by keeping the seized assets instead of buying with their own cash.
Recent developments show the extent to which crypto beings become global economic structure. The programs of the central banks and governments on the subject are guiding for market players.
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.
