Bank of Korea (bok) Central Bank digital currency project Singapore financial newspaper suspended Business Time reported on Monday.
The project has reached the stage of developing a pilot plan with participating banks.
The report said the central bank will suspend discussions related to the plan.
South Korean President Lee Jae-Myung took office on June 4 Proposal to the country’s crypto community during his election. His commitment includes supporting the stable market that wins.
Earlier this month, Lee’s ruler of the Democratic Party A permitted bill was filed Qualified companies with stable issuance.
CBDC is a form of fiat currency designed to act as a digital peer of cash. They are criticized as a concept, especially in crypto communities, Worry About privacy, surveillance and national control.
South Korea’s Bank did not respond to Coindesk’s request for comment.
