South Korea's central bank has decided to temporarily pause its CBDC project as local currency-based stablecoins gain momentum under endorsement by the country's president. According to Yonhap News Agency, the Bank of Korea (BOK) recently notified banks participating in the Hangang CBDC project that it is postponing discussions of a second stage of digital currency trials. The suspension comes less than three months after the central bank launched the Hangang CBDC pilot, which allowed 100,000 citizen participants to use the CBDC at local vendors in partnership with major local banking institutions. The first stage of ... (full story)