According to the Korean Economic Television, the Bank of Korea has explicitly stated that it has never considered including Bitcoin in its foreign exchange reserves. On the 16th, Bank of Korea responded to a written inquiry from a member of the National Assembly and the Planning and Finance Committee, Che Gui geun, stating, "We believe that the issue of including Bitcoin in foreign exchange reserves needs to be approached with caution." This is the first time Bank of Korea has taken a stance on the issue of Bitcoin reserves.
The first reason why Korean banks hold a negative attitude is the high volatility of Bitcoin prices. In response, Bank of Korea pointed out that "if the virtual asset market becomes unstable, Bitcoin may face the risk of a sharp increase in transaction costs during the monetization process." In addition, Bank of Korea also stated, "We believe that Bitcoin does not meet the International Monetary Fund's (IMF) foreign exchange reserve calculation standards Based on these reasons, the Bank of Korea replied, "So far, we have never discussed or considered including Bitcoin in foreign exchange reserves." The Bank of Korea also added, "It is understood that some countries such as the Czech Republic and Brazil hold a positive attitude towards this, but the European Central Bank (ECB), the Swiss National Bank, and the Japanese government have all expressed opposition
