South Korea CBDC petition signatures reach 420,000 ahead of phase-two pilot

Ahead of the second phase of the Bank of Korea’s central bank digital currency pilot, Project Hangang, eight public petitions opposing the introduction of a CBDC have drawn a combined 420,000 signatures, Electronic Times Internet reported. After the central bank signaled it would proceed with the second-phase test, 150,000 people across three rounds in July and August this year called for public opinion to be gathered again. A petitioner in a National Assembly consent petition posted in late August argued the Bank of Korea should transparently disclose how it would protect personal data and citizens’ rights if a CBDC is introduced, while raising concerns that all fund flows could be recorded in the central bank’s system and expose personal information.