Bank of Korea establishes digital currency advisory committee

The Bank of Korea has created a Digital Currency Advisory Committee to address central bank digital currencies, deposit tokens, and related issues. The committee held its first meeting on Sept. 29. This new advisory body aims to gather insights from external experts and the market, following the dissolution of the previous group about five months ago. The establishment of the committee coincides with the advancement of digital currency projects such as Project Hangang, Project Agora, and tokenized government bonds, amid ongoing discussions regarding CBDC privacy and security concerns. There are worries that the committee may be perceived as a superficial response to the upcoming parliamentary audit.

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