South Korea to Soon Legalize Bitcoin and Ethereum, Protect Traders From Bubble Burst
On July 3, Representative Park Yong-Jin of the ruling Democratic Party of South Korea announced that revisions on the regulatory frameworks for cryptocurrencies including Bitcoin would be released in the upcoming months.
Three bills will be drafted and revised by South Korean lawmaker Park with the sole focus on legalizing Bitcoin and Ethereum. In the proposal obtained by local publications including The Korean Herald, Park emphasized the necessity to protect South Korean users, traders and investors from potential risks and the event of a digital currency bubble burst.
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