South Korean Presidential Committee suggests to legalize crypto and adopt blockchain – Cryptocurrency News

The presidential committee has suggested the authorities to identify blockchain as an invincible trend and render a legal status to the cryptocurrencies. The committee recommends synchronizing technology, data, and startup ecosystem to ascend innovations. It highlighted the lagging of Korea in the blockchain and cryptocurrency industry due to excessive speculation. The board urged the government to promote the employment of technology along with encrypted assets.

The South Korean Presidential Committee on the 4th Industrial Revolution, in a recommendation plan uncovered at a conference in Seoul, proposed to the government to systematize cryptocurrencies and identify blockchain as an irresistible trend.

The committee suggested contemporizing the startup ecosystem with data and technology to enhance the social and industrial revolution. Coming to technology, the board urged the authorities to adopt blockchain and turn the radar of attention towards artificial intelligence and cybersecurity.

It further displayed concerns that extreme speculation is now hurting the global competition of Korea’s blockchain and cryptocurrencies sectors, and from the perspective of worldly competitiveness, the authorities should enhance the activation of technology and legalization of cryptocurrencies. The committee has asked the officials to study taxation and accounting plans, and also actively allow startups to engage in regulatory schemes.

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Karol Rhodri
Karol Rhodri
Karol is a strong professional with a Master of Library & Information Science - MLIS focused in Mathematics and Computer Science from Empire Beauty School-State College. He has a strong belief that every technology-related company will surely adopt blockchain, it's just a matter of time.

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