Tuesday morning, Jan. 16, a South Korean petition against the regulation of virtual currency reached the number of signatures needed to compel a response from the govt..
The online petition occupation the govt. to rethink its stance on cryptocurrency regulation was started on the web site of the South Korean presidential workplace on Dec. 28.
On January sixteen, the petition obtained over 212,700 signatures. in line with the web site of the presidential workplace, the minimum needed for a government response is two hundred,000, so officers area unit expected to react to the requests listed within the petition within the next thirty days.
The petition asks the govt. to renounce planned commercialism rules that may ruin “a happy dream” that has been enabled by digital currencies.
However, the petition still supports a number of South Korea’s cryptocurrency rules, like ban anonymous commercialism accounts. Notably, South Korea’s largest cryptocurrency exchange Bithumb conjointly supports “the right set of regulations”.
Worried a few ‘cryptocurrency obsession’ within the country, the South Korean government started considering a variety of regulative measures for crypto.
Some of the planned rules embrace ban anonymous virtual commercialism accounts, forbidding underaged investors and foreigners from investment in Bitcoin and alternative cryptocurrencies on the Korean market, and even ban cryptocurrency commercialism outright.
Cryptocurrency investment has become particularly well-liked among South Korean youth since the country’s economic scenario is notably exhausting for the young population. in line with Quartz, the youth state hit associate degree uncomparable high rate of twelve.5% in February 2017, compared to the typical overall percentage of four.2%.
Overall, the stance of the South Korean government towards cryptocurrency regulation has been contradictory throughout the last month, made in particular confusing by the Justice Minister’s informal proposal of a cryptocurrency commercialism ban, that was then wide misreported by thought media.
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ya I strongly agree, hope south korea government can follow up this issue.. :D
Yeah.. One day they will realize it..
yes I really support you, greetings from Aceh. Indonesia.. :D