The Government of South Korea Has Been Asked to Settle the Cryptocurrency Sector

The Korean Blockchain Enterprise Promotion Association calls on the state to take measures and regulate the blockchain and cryptocurrencies. According to the statement, the Association asks for a settlement in order to have a legitimate opportunity to use innovative crypto technologies, rather than focus on "short-term side effects."

The Association stressed that it requires the government not only to settle the issue of using blockchain technologies, but also to establish the work of cryptocurrencies and to control the ICOs. According to them, this will lead to the creation of jobs and other benefits. The President of the Association noted that many countries are already actively implementing and investigating the technology of blockchain and cryptocurrencies, which are regulated by the appropriate authorities to ensure a sufficient level of security. He also added that blockchain technology is universally applied "in all aspects, including healthcare, trade and logistics", while meanwhile in South Korea:

“Instead of welcoming the people’s fervor for the technology, the government is focused on controlling it to address negative short-term side effects. This is essentially kicking away the economic opportunities that lie in front of us.”

#Korea, #cryptocurrency, #regulations