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2026-07-21 03:50
Odaily Planet Daily News: According to documents from the Financial Supervisory Service of South Korea, during the first phase of the CBDC pilot project led by the Bank of Korea, financial authorities did not conduct any independent security verification, relying solely on self-conducted preliminary security reviews by the participating banks. Before the project launch, only self-assessments of IT vulnerabilities were carried out on the participating banks, executed jointly by the Financial Security Institute, SK Shields, and the internal review teams of Woori Bank and Nonghyup Bank, forming an evaluation model of "self-inspection by the regulated." In the pilot results report, the Bank of Korea acknowledged external concerns regarding the security of deposit tokens and responded that the preliminary reviews had been sufficient. However, critics pointed out that this explanation constitutes a self-assessment, not an independent third-party verification.