“There are cases in which young Koreans, including students, use crypto-currencies to quickly make money with illegal activities such as drug trafficking or other types of fraud “, is concerned Lee Nak-yeon, the first south Korean minister.
Protect young people
The Prime minister of South Korea is decidedly not a fan of the youthful enthusiasm of his country for the Bitcoin, and has given warnings about this. “This can lead to serious distortion or phenomena that are social and pathological ; if we do not deal with it “, he lamented. It is important to remember that South Korea is a giant in the ecosystem Bitcoin, even if his government has a difficult relationship with crypto-currencies.
A paradox amazing
South Korea is a country that is ultra-connected. And as such, it has all the necessary infrastructure to accommodate the Bitcoin and crypto-currencies in general. However, the government of the country has a relationship and almost schizophrenic with the Bitcoin. Moreover, recently, the government has banned the ICO, and has warned of the imminent arrival of legislation specific to the exchange of crypto-currencies. Thus, one can think that the remarks of the Prime minister left the door open to a future decision hostile to the State.
South Korea is not an isolated case
If we look at the situation in other countries of the world, it remains difficult to clearly see a trend. All that is known is that some regulatory authorities seem to be more open than others when it comes to crypto-currencies. For example, what happens in Mexico is encouraging for the future of crypto-currencies. In effect, the director-general of the central Bank, Alan Elizondo, presented a new draft amendment to the law on financial technology, which would allow banks and financial institutions handling the crypto-currency.
Source : News.Bitcoin