South Korean Lawyers Exhort Government To Expedite Implementation Of Blockchain And Crypto Regulation
Coindesk, citing a Reuters article, reported that the Korean Bar Association- which regulates South Korean lawyers- has urged the government to move faster on the formulation of regulation for the blockchain and crypto industry so that the tech industry can grow and investors' interests are protected.
Kim Hyun, president of the Korean Bar Association, said: "We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies."
In July this year, South Korea's Financial Services Commission (FSC) set up the Financial Innovation Bureau with the specific purpose of developing policy for the blockchain and crypto industry.
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