South Korean cryptocurrency industry chiefs, legal experts, politicians and more have been having their say on yesterday’s landmark vote in the National Assembly to introduce the nation’s first-ever package of crypto-specific legislation.
As previously reported, the National Assembly green-lighted an amendment to an existing finance act on March 5, incorporating FATF-recommended crypto guidelines, with a unanimous 182-0 vote in favor.
Per Chosun, Kim Sunga, the CEO of the Hanbitco exchange and the chair of the Korea Blockchain Association Exchange Committee, said,
“The legal status of cryptocurrency exchanges has been secured. The bill will play a big role in creating a cryptocurrency-powered financial industry.”
Oh Gap-soo, the head of the Korea Blockchain Association, said that the move would help create new jobs and drive the economy, strengthening the cryptocurrency market and the wider blockchain technology industry.
And a spokesperson for the Korea Fintech Industry Association said that the new law “will help not only develop the cryptocurrency and blockchain industries but also help foster the greater fintech industry in a safer environment.”
Per Hanguk Kyungjae, the association also added,
“[The bill] will contribute to the development of the South Korean economy in the long term.”
