The post South Korea Considers Bitcoin Integration into National Reserves Amid U.S. Crypto Developments appeared on BitcoinEthereumNews.com.

As South Korea contemplates its position in the global cryptocurrency landscape, financial experts are urging the inclusion of Bitcoin in national reserves. The push comes amid increasing global interest in cryptocurrency, particularly following the U.S. plan to establish a Bitcoin Reserve. “Without a domestic stablecoin alternative, South Korea risks losing monetary sovereignty,” stated Kim Jong-seung, CEO of blockchain firm xCrypton. South Korean lawmakers propose integrating Bitcoin into national reserves and developing a stablecoin, responding to U.S. crypto policy shifts. South Korea’s Growing Interest in Cryptocurrency Reserves Last Wednesday, a forum at the National Assembly highlighted the growing urgency among South Korean lawmakers and financial experts to consider Bitcoin as part of the nation’s economic strategy. The discussions, hosted by the main opposition party, the Democratic Party, centered on the implications of a U.S.-led initiative to establish a national reserve for Bitcoin. This comes in the wake of President Trump’s executive order to create a national crypto stockpile, positioning the U.S. as a formidable player in the cryptocurrency space. The U.S. Bitcoin Reserve Initiative and Its Implications The executive order signed by President Trump, aimed at establishing a national reserve centered on Bitcoin, is a significant move in the crypto sector. Trump’s initiative was discussed during a crypto summit at the White House, where industry leaders gathered to explore how the administration plans to foster a crypto Renaissance. The implications for South Korea are profound, as the country may need to develop competitive policies to avoid falling behind in the digital economy. Policy Recommendations and the Need for a Stablecoin During the forum, experts, including Kim Jong-seung, emphasized the urgency of developing a South Korean won-backed stablecoin. This initiative aims to ensure that South Korea retains a degree of monetary sovereignty amidst a growing reliance on USD-pegged stablecoins. The proposal advocates…

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Filed under: News - @ March 10, 2025 1:23 am