- Rhee Chang-yong, governor of the Bank of Korea, said overseas crypto cards pose several risks in terms of regulatory arbitrage and user protection.
- He said overseas crypto cards carry fees considerably higher than those of conventional payment methods because they involve an additional layer of intermediation.
- He said he would closely monitor the rise in overseas crypto card use because of limited visibility into transaction activity, the potential for customs-duty evasion, and the difficulty of protecting domestic users if issuers go bankrupt or are hacked.
Forecast Trend Report by Period
Rhee Chang-yong, governor of the Bank of Korea, said he…
