South Korea will launch new bitcoin bitcoin ETF system contains many other content
According to the bitcoin enthusiasts said that the current South Korean bitcoin market matures, the long-term development of the development environment is particularly suitable for bitcoin. Local news reports, the Korean financial authorities are to launch a new program, they intend to develop a series of bitcoin trading system, including bitcoin Exchange Traded Fund (bitcoin ETF), or even similar bitcoin standard shares on gambling transactions. This lets users see bitcoin bitcoin ETF re emergence of hope.
As everyone knows, in March 11th, the U.S. Securities and Exchange Commission (SEC) and the Winkelvoss brothers did not apply for bitcoin ETF, resulting in the day bitcoin prices rose fell. Still remember the SEC results before the price of bitcoin just set a record high of $1350, but the public after the price fell below $1000.
Although there are still other bitcoin ETF filed with the securities and exchange commission from SEC on the desk, but the Winklevoss brothers of the situation, the other two companies for bitcoin may also not optimistic about the prospects of ETF.
Korean financial authorities plan to implement a new bitcoin system
While bitcoin market investment depression on the occasion, South Korea came to the world bitcoin traders feel exciting news, the Korean financial authorities are planning to launch a new bitcoin system, these systems include bitcoin ETF (exchange traded funds).
Local media believe that radical measures the South Korean financial authorities this plan is not a spur of the moment, but taking into account the bitcoin in the long-term development of South korea. Statistics, since the birth of bitcoin, Korean investors began bitcoin transactions. There are more than 2 million bitcoin transaction occurred in South Korea South Korea’s current year, bitcoin trading volume has reached 1 trillion and 500 billion won $1 billion 290 million. Experts predict that South Korea’s bitcoin market can be expanded 5 times, and finish the expansion in a short span of 3 years.
Professionals said, in addition to the Winkelvoss brothers will look into the Korean market, many bitcoin industry celebrities are trying to participate in the development of the bitcoin market in South korea. Indeed, a South Korean financial authorities support, what could be more secure than it.
South Korea to implement the new bitcoin system and monetary policy
Analysts believe that the reason why South Korea should vigorously support bitcoin transactions, or with their further monetary policy. Allegedly, South Korea is also currently in exploring new direction of paper currency, plans the country government is promoting recovery of notes and coins.
The Bank of Korea, according to a more reliable news show, currently the country’s central bank but also focus on the circulation of small denominations, plans to use prepaid cash card cancel change service. This move also contributes to the application of electronic money, to lay the foundation for the popularization of encryption currency.
The monetary policy and the ideal environment for the development of South Korea, perhaps it will become a paradise for bitcoin development. If bitcoin ETF can succeed in South Korea, the United States Securities and Exchange Commission may have to reconsider the possibility of bitcoin ETF obtained by the.