Bank of Korea: Opposes Issuing Treasury Bills for Cryptocurrencies
the Bank of Korea warned on the 19th that issuing short-term Treasury bonds to activate the stablecoin of the Korean won may have a negative impact on the financial market. This directly vetoed the necessity of issuing short-term Treasury bonds proposed by some individuals. The Bank of Korea clarified this position by submitting a written reply to the office of the National Assembly's Planning and Finance Committee member, Chae Gye-geun, of the Motherland Innovation Party.
The Bank of Korea stated: "The scale and term of issuance of Treasury bonds should be determined based on the basic purpose of raising fiscal funds. It is inappropriate to issue short-term Treasury bonds to meet specific market demands such as stablecoins."
In particular, the Bank of Korea emphasized: "An increase in the issuance of short-term Treasury bonds will increase the burden of refinancing issuance and market digestion, thereby weakening the stability of raising fiscal funds, which must also be considered."
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