Bank of Korea doesn't recognize Bitcoin as currency

Representatives of the Bank of Korea (BOK) said that they can not recognize bitcoin and other digital assets as a means of payment
25 October 2017   1943

Representatives of the central bank of South Korea said that they can not recognize bitcoin and other digital assets as a means of payment. This is reported by Bitcoin.com.

The statement was made shortly after the National Assembly of the Republic of Korea held a parliamentary audit of the country's central bank. When asked about the expediency of regulating the sphere of crypto-currency, representatives of the central bank stated the following:

Regulation is appropriate for it because it is regarded as a commodity. It is not a regulation at the level of money…It is not a situation for the Bank of Korea to take action at present. The possibility that the central bank’s digital money will be issued in the near future is likely to become a means of payment specialized for interbank transactions or central bank transactions

Lee Joo-yeol 
Governor, BOK 

Representatives of the regulator also noted that digital currencies are likely to be considered only as a tool for interbank settlements and internal operations of the Bank of Korea.

Among other things, some representatives of the National Assembly from among the deputies from the South Korean Democratic Party noted that according to the results of the audit of the central bank, "bad conclusions" were made. In particular, the member of the Committee on Financial and Economic Planning, Son Yong Gil, criticized the bank's leadership for the lack of research in the field of digital currencies, including bitcoin and Ethereum.

There are more than 1,000 companies that can use bitcoin in Korea. However, the data provided [by BOK] shows insufficient numbers. Virtual currency and blockchains are important research subjects, if you neglect them, you can lose the future market.
 

Song Young-gil
Member, National Assembly’s Planning and Finance Committee

 

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   79

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.