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Author Topic: [2017-07-18]Korean Lawmaker Calls for Consumer Protection in Cryptocurrency Bill  (Read 3667 times)
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July 18, 2017, 04:52:46 PM

Korean Lawmaker Calls for Consumer Protection in Cryptocurrency Bill

South Korea's national legislature was the site of a public hearing on Tuesday in which recently proposed cryptocurrency regulation saw new discussion.

According to local media reports, Korean lawmaker Park Yong-jin used the forum, over which he presided, to call for consumer protections to be added to the bill. Aimed at laying the groundwork for regulation in South Korea, the public hearing comes two weeks after Park first unveiled the plan, which would capture cryptocurrencies such as bitcoin and ether.

Panelists in the hearing includes lawyers, professors, an official from South Korea's top financial regulator (the Financial Services Commission), as well as a victim of a cryptocurrency-related Ponzi scam.

As such, much of the focus of the talk was on strengthening consumer protections for industry startups and technologists.

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