South Korean Central Bank Prepares for CBDC and Discusses Stablecoin Regulation in 2022 Payment and Settlement Systems Report

07/19 21:55

The South Korean central bank has released its Payment and Settlement Systems Report for 2022, which states that oversight of the systems was successful and it is preparing for the future with central bank digital currency (CBDC) and discussing stablecoin regulation. The BOK-Wire+ fast payment system will be upgraded to real-time gross settlement (RTGS) and has adopted the ISO 20022 standard, with implementation expected in 2028.
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