Ngân hàng Trung ương Hàn Quốc loại trừ dự trữ Bitcoin bất chấp xu hướng toàn cầu
The Bank of Korea (BOK) recently announced that it is not considering adding bitcoin to its foreign exchange reserves, despite the global trend of gradually accepting cryptocurrencies as part of the financial system.
Main Reason: High Volatility and Liquidity Risk
According to Korea Economic Daily, the South Korean central bank emphasized that bitcoin's high volatility is the main reason for not including this digital asset in its reserve portfolio. Converting bitcoin to fiat currency could significantly increase transaction costs, affecting the stability of the country's foreign exchange reserves.
In addition, the BOK also cited the International Monetary Fund (IMF) guidelines, which require foreign exchange reserves to ensure prudent management of liquidity, market and credit risks. Currently, bitcoin does not meet these criteria and is therefore not suitable to be included in the Korean foreign exchange reserves.
Contrary to the trend in the United States
The BOK's decision is in stark contrast to the new policy of the United States. On March 6, President Donald Trump signed an executive order establishing the Strategic Bitcoin Reserve. The fund will be built on the amount of bitcoin seized in criminal and civil cases.
This event has prompted many countries to consider adding bitcoin to their national reserves. However, South Korea, along with Japan, Switzerland, and the European Central Bank, has maintained a cautious stance, avoiding risks from the volatility of digital assets.
South Korea remains open to cryptocurrencies
Although it does not consider bitcoin as a reserve asset, South Korea is still working to adjust its policies to promote the development of the cryptocurrency market. The country’s financial watchdog is currently taking several important steps:
- Gradual lifting of the ban on cryptocurrency trading for institutions
- Preparing to build a second-generation cryptocurrency legal framework
- Focusing on stablecoin management to enhance stability
These adjustments show that while the Bank of Korea still maintains a cautious stance on bitcoin, the country is gradually integrating cryptocurrencies into the financial system in a controlled manner.