Odaily Planet Daily News - The head of South Korea's top financial regulator has "temporarily" dismissed discussions on establishing a national Bitcoin reserve. Kim Byeong-hwan, chairman of the Financial Services Commission (FSC), stated during a television interview on November 24 that Seoul sees "no need" to "stockpile cryptocurrencies" as promised by U.S. President-elect Trump. South Korea will wait for other countries to respond to Trump's cryptocurrency adoption plan before taking action. "In the future, the extent to which we nurture the (crypto industry) will ultimately be a matter of judgment. It will depend on whether the positions of other countries change due to U.S. government policies," he added. He also mentioned that "domestic conditions" will influence the regulator's thoughts, stating, "Our top priority is to study how to best further protect (domestic cryptocurrency) investors. The idea of holding (Bitcoin) as a reserve asset is something we need to take some time to study." He further stated that the FSC does not believe that BTC and other cryptocurrencies can bring benefits to the national economy. (Cryptonews)

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