đ° CRYPTO NEWS
The Bank of Korea surveyed the countryâs major banks for the first time to assess how exposed they would be to various crypto crisis scenarios: from a massive hack to a sudden price collapse or the bankruptcy of a company in the sector. They also asked about their internal crypto teams, the budgets allocated to them, and the level of investment in the area. This shows that regulators can no longer ignore the impact the crypto ecosystem has on the traditional financial system. South Korea is one of the worldâs most active crypto markets, so this move by the central bank is significant. Itâs worth asking: if major banks in an economy thatâs so crypto-friendly are already being âstress-testedâ against potential market shocks, what does that tell us about the level of systemic risk regulators actually attribute to this sector?
What do you think? Let me know in the comments đ
The Bank of Korea surveyed the countryâs major banks for the first time to assess how exposed they would be to various crypto crisis scenarios: from a massive hack to a sudden price collapse or the bankruptcy of a company in the sector. They also asked about their internal crypto teams, the budgets allocated to them, and the level of investment in the area. This shows that regulators can no longer ignore the impact the crypto ecosystem has on the traditional financial system. South Korea is one of the worldâs most active crypto markets, so this move by the central bank is significant. Itâs worth asking: if major banks in an economy thatâs so crypto-friendly are already being âstress-testedâ against potential market shocks, what does that tell us about the level of systemic risk regulators actually attribute to this sector?
What do you think? Let me know in the comments đ