BoK’s Rhee ‘not so sure’ about digital currencies

SEOUL: South Korea’s central bank governor Rhee Chang-yong says he becomes sceptical of the benefits of new technologies related to Central Bank Digital Currencies, after recent events in the cryptocurrency market.

“If I narrowly focus on the technology of blockchain and new technologies related with crypto, stablecoin, and DeFi (decentralised finance), I am not so sure whether we are seeing the benefit of this technological development recently,” Rhee said yesterday at a central banking conference in Thailand.

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