S. Korea to Refuse to Issue CBDC

Bank of Korea believes that CBDC issue could reduce the effectiveness of traditional instruments of monetary policy
19 June 2018   800

Bank of Korea (BoK) opposed the idea of launching its own cryptocurrency (CBDC), which, according to the regulator, could reduce the effectiveness of traditional instruments of monetary policy. This reported by Coindesk..

According to BoK, the sudden issue of CBDC into the economy "will cost society dearly and will do moral harm", and will also have a negative impact on monetary policy and, possibly, will cause instability in the financial market.

In general, the regulator believes that "digital currencies do not function like money."

Our thoughts are that digital currencies have been exposed to various categories of risk associated with credit, liquidity and legal management. [...] It's desirable that the BoK is the only entity to entirely control the issuing of money. Technology improvements don't mean private sectors will be allowed to have the rights for money issuance. If this happens, the BoK should regulate them but properly.

Kwon Oh-ik

Economist, BoK

Also, BoK said that it wants to retain a monopoly on the implementation of monetary policy.

At the same time, the Central Bank does not reject the possibility of issuing CBDC in the future. The regulator recognizes that cryptocurrencies can revolutionize the banking system. But before giving digital assets the full right to life, they must be thoroughly tested.

Bittrex to Go For Maintenance After 1/3 Funds Moved

Users suspects hack, but exchange says "funds are safe"
05 December 2019   96

The Bittrex cryptocurrency exchange has announced scheduled maintenance today, December 5, from 22:00 to 23:00 (GMT). On the eve, a third of its assets were transferred to an unknown wallet.

During maintenance, users will not be able to log into the system or use the APIs. Trading will be suspended.

On December the 4th, populat Twitter account posted that "43,564 #BTC (313,074,134 USD) transferred from Bittrex to unknown wallet." Users suspected that the exchange was hacked, but the exchange . 

Closures for scheduled maintenance only heightened suspicion. However, the Bittrex team assures that "that claim is false."