The South Korean authorities has formally answered to the current petition, with over 20,000 signers, in opposition to unfair cryptocurrency guidelines. The regulators defended their crypto measures and outlined extra regulatory plans.
Well-liked Petition Answered
South Korea has answered the petition entitled “Has the authorities ever dreamed a chuffed dream for the people?” Filed on December 28, the one-month petition asks the authorities to withhold some distance from low guidelines for cryptocurrencies in the country and “now no longer tag unfair guidelines on digital foreign money funding.”
In line with the principles set by the Blue House, the authorities will acknowledge to any petition with over 200,000 signatures within a month. On January sixteen, the above petition surpassed that threshold, as news.Bitcoin.com previously reported. By January 27, a complete of 228,295 people had signed and the authorities subsequently answered to it on Wednesday.
Hong Nam-ki, Minister of the Instruct of job for Government Policy Coordination (OPC) talked about in his response:
It is the indispensable policy of the authorities to prevent unlawful acts and uncertainties in the formula of digital foreign money transactions, and actively nurture blockchain technology…Transparency of digital foreign money transactions for the length of the framework of the fresh law is a high precedence…Now we were attentive and cautious, conserving an initiating behold on market prerequisites, international trends, and all means”
Government Smooth Divided on Regulations
The Korean authorities began announcing regulatory measures for cryptocurrencies in the course of December. Since then, the regulators own thought to be a wide collection of measures to curb speculation of the crypto market. They implemented the re
Original Source: Bitcoin News
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