This delay came after Korean President Lee Jae-Myung called to extend the scope of access to stable currencies, by proposing less striking regulatory laws which allow companies to issue digital currencies supported by Korean.
South Korea has temporarily suspended the central bank test project temporarily and has postponed the preparations for the next step, at a time when the importance of stable currencies at political and economic levels increases. It was reported that the Korea Bank informed the participating banks of its intention to suspend the discussions linked to the second stage of the Central Bank digital project (CBDC), which was to be launched later this year. An official of the Korea bank confirmed the decision in a declaration in Bloomberg, explaining that the change of priorities required a project examination.
The initiative of the new president on stable currencies pushes the central bank to wait
The delay in decision -making comes at a time when the newly elected president Lee Jay Meong pays growing interests in stable currencies; A few weeks later from his mission, he suggested extending the scope of declared entities by issuing Korean currencies with a stable back, to include companies that have a capital of less than 500 million Koreans (about $ 370,000)))))))))))
The Central Bank of South Korea has interrupted its digital currency test project, indicating to the participating banks that it will be temporary discussions in pauses linked to the initiative https://t.co/tubn6lxvo
– Bloomberg (@bushing) June 30, 2025
Its administration has suggested that stable currencies can play a central role in the national road map of digital assets, but the managers of the Korean bank are clearly cautious against precipitation to make decisions. The first sub-government, Ryoo Sang-Dai, recently underlined the need for the gradual launch of upcoming stable currencies and under the supervision of banks, with clear guarantees that guarantee the protection and procedures of consumers who protect the market against disorders.
Digital currencies represent a central component of the personal wealth of millions of South Koreans
South Korea is still one of the most active digital monetary markets in the world, with more than a third of the population – around 18 million people – participates in the circulation of digital assets. By a few active days, trading volumes on local crepeetto platforms have exceeded their counterparts in traditional stock markets such as Kospi and Kosda.
A recent study in the sector has shown that more than half of the South Koreans, between 20 and 59 years old, had previously exchanged digital currencies, and that one in four people keep digital assets which constitute at least 14% of their investment bags, and many of them maintain the governor of crypto on several local trading platforms.
The interest in digital assets has also expanded to the stock market, where the value of the shares of companies linked to the digital currency of the Korean central bank has increased in recent weeks, and the value of Kakao’s remuneration has doubled during this month, while LG CNS shares jumped almost 70% before seeing a slight reaction.
The South Korea post suspends the central bank development plans (CBDC) – Here are the details that first on Arab Cryptonews.
