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No Active Plans for BTC Reserves
South Korea’s central bank has clarified that it has not discussed or reviewed adding Bitcoin to its foreign exchange reserves. This comes despite calls from lawmakers and crypto advocates pushing for its inclusion.
Concerns Over Volatility
The Bank of Korea emphasized Bitcoin’s high price volatility as a key reason for its cautious stance. Officials warned that instability in the crypto market could lead to higher transaction costs when converting BTC to cash.
Government’s Position on Crypto Reserves
Responding to an inquiry from Representative Cha Gyu-geun, the central bank reiterated its need for a “cautious approach.” Bitcoin’s recent price swings further support their stance against immediate adoption.
