South Korean regulators and officials have heeded the voice of reason and say they will weaken the regulation of cryptocurrencies.
The authorities of the financial industry of South Korea are preparing to soften the approach to the regulation of cryptocurrencies. Previously, South Korea’s regulators classified cryptocurrencies as” non-financial assets ” because of their speculative nature.
South Korea’s financial regulator: the questions should be looked at more broadly, the crypt is softer
However, recently the country’s financial supervision Service (FSS) issued a statement saying: “it is clear that cryptocurrencies will be classified as assets and the main problem will be focused on how to properly regulate them within the framework (approach) to be agreed between the G-20 countries. Given South Korea’s current position, this is not good, but we will intensify efforts to improve the situation.”
The head of the FSS Yun Suk-Heun also noted that cryptocurrencies have positive features.
These events, positive for the cryptocurrency space, occur within a few weeks after it became known about the development in South Korea of the bill of legalization of new cryptocurrencies and ICO, CCN writes.