Research results suggest that there is a need to reorganize related laws and systems to prevent the central bank digital currency (CBDC) from being included in virtual assets and to punish forgery and alteration.
The Bank of Korea announced on the 8th that this was the result of an external research service under the theme of’CBDC-related legal issues and directions for enactment and amendment’ from July to December of last year. Seoul National University Professor Jeong Soon-seop, Seoul National University Professor Jeong Jun-hyuk, and Lee Jong-hyuk Professor of Hanyang University participated in this research service.
These professors said in the report, “CBDC is clearly distinguished from virtual assets, but since the specific financial information law defines’virtual asset’ broadly regardless of the issuer’s existence, the’Specific Financial Information Act’ is adopted to prevent CBDC from being included in virtual assets. It is necessary to revise,” he pointed out that “the currency issued by the Bank of Korea refers to the banknotes and coins of Korea, but it is difficult to interpret that CBDC is included in this, so it is necessary to prepare separate rules for issuing CBDC.”
