Bank of Korea increases stablecoin and CBDC’s concentration of Virtual Asset Division
South Korea takes a big step towards Establecoin for the oversight and development of digital money. According to July 29 reports from the Yonhap News, Korea bank announces the new partition phase of the Bureau finance. The newly constructed section will look at the broad Crypto market and lead internal negotiations focusing directly from the development and management of Korean based stables.
As part of the extensive organization, the central bank will resume its digital financial research lab starting on July 31. This change is aimed at showing changes in pure business research. In addition, party 1 and party 2 of the Digital Financial Squief phase will be reconsidered two new units: Digital financial technology and digital Infrastructure Group. These groups will focus on technology – professional preservation, deposit platforms – tokens, and Stablecoin usage.
This planning signs the growing commitment to South Korea in new digital leads. Like the stables and Central Bank digital currensen (CBDCs) Find world power, Korean bank seems to match its internal operating infrastructure, the role of money in future cash.
Bank of Korea Signals is strong commitment to stablcoin’s development despite the delay of testing
Korean bank has just specified the purpose after renovating a financial clinical clinic, “We wanted to specify that the department is not only using the word ‘Research’ in its name outside of the economic research center.” Change also emphasizes the purpose of the Banks of the Bill and the unit with extensive operating responsibilities and policy driven by policy. However, the officer noted, “there will be no major change in the first work.”
The Digital Currency Lab, Which Evolved From the Research Department Earlier This, Remeather at the Forefront of South Korea’s Central Currency (CBDC) initiatives. One of its key projects is “Project Han River,” Long-term Step designed to exercise the actual digital performance performance. The first test section concluded successfully at the end of the month ago, but the second phase is made. The delay appears in concern that role-based banks due to a long-term road shortage and financial burden on participating.
Despite temporary suspension, the Korean Emperor Lee Chang-Yong bank was emphasized during the media conference on July 10 The Project Han River also added a stablcoin or deposit token, the digital fee is required in the future. “
This strengthens the importance of global financial fees: speed detail of more than US stables. The appearance of South Korea’s empowerment of the national national programs, especially as countries seek to make modern programs and maintain the sovereignty of financial infrastructure.
USDT and USDC dominating around 6%
The United States of SDT and USDC is currently remains in 5.96%, according to a weekly chart, indicates neutral position instead of stablcoin. After a total of 18% at the beginning of 2022-during strong sensitivity – metric has been slowing down, indicating the switch to a stablecoins and returns to risk assets.
The chart indicates that USDT + USDC dominated to hold over 50 (6.57%), 100 weeks (6.93%), and 200 weeks and week). The latest valuation action confirms the closer resistance of these standards, and now rules now to test the cycle between 6% limit.
This is a locktrend that often suggests that the growing risk appetie, as the money rotates stablcoins and becomes changing goods like BTC, Eth, Alcohols. However, the fact that the State does not break under 5% indicating a monitoring market that kept a solid foundation for cash.
Picture entered from Dall-e, chart from TradingView Sell
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