South Korea halts CBDC plans, shifting focus to bank-led stablecoins

Local reports indicate that South Korea’s central bank has suspended its central bank digital currency (CBDC) pilot program, pivoting the nation’s focus toward a private, bank-led stablecoin initiative. The Bank of Korea (BOK) halted its “Project Han River,” following mounting pressure from commercial banking partners who cited prohibitive costs and the absence of a viable […]