{"id":34350,"date":"2025-06-30T11:01:53","date_gmt":"2025-06-30T11:01:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34350"},"modified":"2025-06-30T11:01:53","modified_gmt":"2025-06-30T11:01:53","slug":"bank-of-korea-halts-cbdc-project-as-government-submits-stablecoin-bill-report","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34350","title":{"rendered":"Bank of Korea Halts CBDC Project as Government Submits Stablecoin Bill: Report"},"content":{"rendered":"<div>\n<p>The Bank of Korea (BOK) suspended its central bank digital currency project, Singaporean financial newspaper <a href=\"https:\/\/www.businesstimes.com.sg\/companies-markets\/banking-finance\/bank-korea-halts-digital-currency-project-pausing-talks-banks\">Business Times reported on Monday<\/a>. <\/p>\n<p>The project had reached the stage of developing a pilot program with participating banks.<\/p>\n<p>The central bank told the banks it will pause discussions related to the initiative, according to the report, which cited an unidentified BOK official.<\/p>\n<p>South Korea&#8217;s President Lee Jae-myung, who took office June 4, <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/06\/04\/south-korea-elects-crypto-friendly-lee-jae-myung-as-new-president\">courted the country&#8217;s cryptocurrency community during his election campaign<\/a>. Among his promises was a pledge to support a won-based stablecoin market.<\/p>\n<p>Earlier this month, Lee&#8217;s ruling Democratic party <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/06\/10\/south-koreas-ruling-party-wants-to-allow-companies-to-issue-stablecoins-bloomberg\">submitted a bill that would allow<\/a> qualifying companies to issue stablecoins. <\/p>\n<p>CBDCs are a form of fiat currency that are meant to act as a digital counterpart to cash. They have been criticized as a concept, particularly among the crypto community, <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/09\/11\/digital-euro-conspiracy-theories-privacy-concerns-put-eu-central-bankers-in-the-hot-seat\">over concerns<\/a> about privacy, surveillance and state control. <\/p>\n<p>The Bank of Korea did not respond to CoinDesk&#8217;s request for comment. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Korea (BOK) suspended its central bank digital currency project, Singaporean financial newspaper Business Times reported on Monday. The project had reached the stage of developing a pilot program with participating banks. The central bank told the banks it will pause discussions related to the initiative, according to the report, which cited an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34350","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34350"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34350\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}