Bank of Korea

he Lazarus Group, associated with North Korea, caused over $300 million in losses through crypto hacking incidents in 2023.

Singapore's central bank head forecasts the decline of private cryptocurrencies for their unreliability. He envisions a future with regulated coins and central bank digital currencies, echoed by Rao, from India's Reserve Bank. The FSB flags risks from complex crypto firms, emphasising the need for robust regulations. The shift towards regulated digital currencies is clear, yet strong oversight remains crucial.

The FSC will purportedly provide policy support, encouraging periodic capability evaluations for companies to enhance their anti-money laundering measures.

South Korea's move towards CBDC implementation signifies a notable step in the evolution of digital currencies. While the pilot program is poised to bring about positive changes, it is crucial to navigate potential challenges and ensure a secure and efficient financial landscape.

Bank of Korea pioneers a revolutionary CBDC pilot involving 100,000 citizens, marking a significant step towards the Digital Won era.

South Korea enforces a mandatory disclosure of cryptocurrency holdings for politicians, promoting transparency in the financial portfolios of public figures.

This revelation has sparked concern and caution among investors, primarily due to the ongoing challenges posed by inflation and market volatility. Despite these substantial unrealised losses, the bank still manages to maintain high-profit margins thanks to its attractive interest rates.

This follows an investigation stage initiated in October 2021, and a proposal outlined in June 2023.

Four suspects in South Korean cryptocurrency-linked murder case face possible capital sentence.

This pilot program will involve both private banks and public institutions, with technical expertise provided by the Bank for International Settlements (BIS).