South Korea bitcoin mania: everyone wanting to invest money encryption
A large number of Korean investors started to invest in bitcoin and encryption currency market demand suddenly soared.
Exponential Korean encryption currency trading market growth rate has let the South Korean Prime Minister Li Luoyuan (LeeNak-yeon) and Deputy Prime Minister and finance minister Jin Dongyan and strategy (KimDong-yeon) issued a public statement, the possible implementation of regulatory policies for the short-term money market in South Korea encryption.
In an interview with New York Times NathanielPoppers Korbit, founder and CEO of TonyLyu said, once a heat of the Korean financial market asset prices, some people started to invest most of the market and investors will be eager to follow this trend of investment assets.
The news quickly spread in korea. Once the people involved, just hope that everyone can participate, there are huge, almost throughout the whole of the activities of the community”.
The majority of investors and financial thinking money market due to the soaring encryption encryption currency transactions. In August, South Korea’s largest encryption currency exchange Bithumb daily trading volume of more than the country’s main stock market KOSDAQ.
South Korean Deputy Prime Minister Jin Dongyan also stressed that once all investors started to invest in encryption currency, investor and consumer protection must be completed before the end of 2018.
The South Korean government plans to implement encryption currency regulation before the end of 2018
Before the South Korean government and financial regulators are hesitant to supervise the local encryption currency market, because it would make the legalization of market. However, given the rapid rise of encryption currency market demand, earlier this month, the South Korean government decided to regulate the market.
South Korean mainstream media Chosun reported that the South Korean Ministry of Finance Planning (MinistryofStrategyandFinance) and the Ministry of Justice (MinistryofJustice), the Financial Services Commission (FinancialServicesCommission), South Korea (FairTradeCommission) and South Korea even bargain Committee of Financial Supervision Commission (FinancialSupervisoryCommission) has been established for crypto currency task groups, government investigation in the short term, what aspects of encryption currency market regulation.
One of the task group spokesman told the Chosun that the South Korean government plans to follow the example of Japan and the United States and other leading economies and the bitcoin market regulatory framework and roadmap.
“The South Korean government had no choice but to follow the trend of the regulatory framework and other leading government. Although encryption currency must exist negative factors, the government stance on the Korean market interests, must be allowed to allow things”.
Gatecoin encryption currency exchange Hongkong marketing director ThomasGlucksmann further pointed out that, taking into account the Korean bitcoin trading market, trading volume and scale, the South Korean government’s regulatory framework is necessary for the development of market and industry.
“Given the size of the market, need what they do as soon as possible”.