South Korea’s central bank has confirmed it has no plans to include Bitcoin in its foreign exchange reserves.
On March 16, the local media outlet Yonhap reported that the Bank of Korea responded to a written inquiry from Representative Cha Gyu-geun of the National Assembly’s Planning and Finance Committee, ruling out the addition of Bitcoin.
The central bank cited Bitcoin’s high volatility as a key concern, noting that transaction costs could rise significantly during market instability.
Officials also highlighted that Bitcoin doesn’t meet the International Monetary Fund’s criteria for foreign exchange reserves, which require assets to maintain liquidity, market stability, and a high credit rating.
