[05-04-2018] Korea: Bithumb VP Criticizes Government Cryptocurrency Reforms

[bitzamp.com]

Korea‘s second largest cryptocurrency exchange Bithumb has called out the government on its cryptocurrency reform program.

Speaking at the annual blockchain forum in Seoul on Wednesday, Bithumb Vice President Lee Jung-a said the government regulatory efforts an attempt to undermine the nature of cryptocurrency in order to make it easier to control.

According to Lee, the government effort to regulate cryptocurrencies is like “making a rugby ball into a football” so that it would be easier to predict where it will bounce to.
Lee noted that the regulations that has been applied so far lacked the “legal basis” for cryptocurrencies, indicating that the regulations were virtually the same as those for financial institutions which is not favourable for the cryptocurrency industry.

Read More: https://bitzamp.com/korea-bithumb-vp-criticizes-government-cryptocurrency-reforms/

[manoj6233]

An executive at a major cryptocurrency exchange criticized the Korean government on Wednesday, calling its regulatory efforts an attempt to change the nature of cryptocurrency to make it easier to control. “Bithumb has had numerous on-site inspections and investigations since the second half of 2016, but
An executive at a major cryptocurrency exchange criticized the Korean government on Wednesday, calling its regulatory efforts an attempt to change the nature of cryptocurrency to make it easier to control.

[jonloner011]

I think he’s right on his point. It’s very unfortunate. South Korea is known to be quite a bit Crypto friendly country, but recent news do not suggest the same. Thinks for sharing the article.

[bitzamp.com]

I think he’s right on his point. It’s very unfortunate. South Korea is known to be quite a bit Crypto friendly country, but recent news do not suggest the same. Thinks for sharing the article.

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