Bithumb Partners ‘Asian Amazon’ While Lawyers Urge Korean Govt to Establish Crypto Framework
Lawyers in the Southeast Asian country lobbied the government today to quickly establish a legal framework for investor protection.
The Korean Bar Association rarely campaigns publically for specific technologies or industry groups, however members felt strongly enough to do so for the cryptocurrency ecosystem within the country. According to Reuters, Bar Association President Kim Hyun spoke to reporters at a news conference held at parliament;
“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies,”
The government responded that it would only decide on regulation after thorough studies have been conducted and that they are currently in the process of doing so.
South Korea is currently home to some of the largest crypto exchanges in the world by trade volume. Many of them are seeking to expand beyond Korean shores in order to capture a rapidly…
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