The Democratic Party of Korea is considering adding Bitcoin to the country's foreign exchange reserves in response to US policies.
Plans of the Democratic Party of Korea
The Democratic Party of Korea has announced plans to discuss the potential inclusion of Bitcoin in the country's foreign exchange reserves. This comes against the backdrop of shifts in international financial policy prompted by actions of the US administration under Donald Trump.
Discussion at the Seminar
The Democratic Party's Governance Plan Center will hold a seminar titled 'Trump 2.0 Crypto Finance Era, South Korea's Response Strategy'. The seminar will discuss the possible inclusion of Bitcoin in foreign exchange reserves, as well as its use as a tool for exchange and asset collateralization.
Position of the Financial Services Commission
South Korea's Financial Services Commission previously denied the creation of a national Bitcoin reserve. FSC Chairman Kim Byung-hwan stated that the country is not ready to make decisions on the matter, waiting for the responses of other countries and market trends.
South Korea is in the process of analyzing Bitcoin's potential for inclusion in its economic strategies, closely monitoring international responses to US initiatives.
