The popular co-founder of Ethereum, Vitalik Buterin and a bipartisan group of lawmakers have tried to persuade the government in South Korea to deregulate the blockchain space. According to them, the current laws are overly restrictive and therefore inhibit innovation.
These comments were made by Buterin while he was speaking at a meeting of the South Korean parliament where he stated, “Blockchain is a technology that can be run without cryptocurrencies, but there is no crypto without blockchain. Public blockchains rely heavily on cryptography. Therefore, cryptocurrencies are absolutely necessary.”
“Blockchain, not Bitcoin”
The South Korean government’s stance on blockchain is something that Buterin disagrees with. The government’s stance goes, “blockchain, not Bitcoin” with officials repeatedly trying to push the promotion of blockchain but they simultaneously are undermining cryptocurrencies and even banning ICOs.
In response to this, Buterin said that both crypto and…
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