Bank Indonesia is currently working on improving the cybersecurity features of the digital rupiah and exploring its cross-border interoperability with CBDCs of other countries.
The FSC revealed that it had issued a letter to the Bankers Association of the Republic of China, which directed credit card issuers to stop onboarding digital assets platforms as merchants.
If the move is implemented, the nations collectively known as CEMAC will be the first to introduce a regional digital currency, while BAEC will be the first regional bank to issue a CBDC.
President-elect Yoon Suk-yeol promised to lift the P2E ban as part of his campaign to open up South Korea to blockchain innovation, but the promise has not been kept.
The Financial Services Agency has raised the alarm over the slow pace at which the digital assets self-regulatory body is carrying out its affairs, according to a source close to the JVCEA.