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BOK Issues Book On Legal Issues Surrounding CBDC Issuance

Bank of Korea

Mon, 08 Feb 2021, 09:00 am UTC

The Bank of Korea on Monday issued a book on legal issues surrounding central-bank digital currency, also known as CBDC.

The book calls for revisions to the law to create an environment where the CBDC can successfully operate.

The digital currency would be based on blockchain technology, and would allow people to send money directly to each other without it needing to pass through a bank or other intermediary, cutting transaction costs.

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