Cryptocurrencies can’t be accepted as fiat says Bank Of Korea governor

Asia Cryptocurrency Korea

According to the governor of the Bank of Korea Lee Ju-yeol, cryptocurrencies cannot be accepted as a legal fiat because they are considered a commodity, not a legal currency.

The governor’s comments came during National Assembly’s audit of the government.

Lee Ju-yeol added that, following the example of other countries such as Sweden, the Bank of Korea intends to research cryptocurrencies further.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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