Korea Blockchain Association Holds Meeting on Cryptocurrency Regulations in Asia

[Asia Economy Reporter Gong Byung-sun] A seminar on virtual currency industry laws will be held online.

The Korea Blockchain Association announced on the 23rd that it will hold a seminar on "Virtual Asset Systems in Asia" at 10 a.m. on the 26th, co-hosted by Kim Byung-wook, a member of the Democratic Party of Korea, and CoinDesk Korea.

At this seminar, the virtual currency systems and financial institution trends of major Asian countries such as Singapore, Hong Kong, and Japan will be examined, and the direction of the domestic virtual currency industry and system will be discussed. Singapore regulates the virtual currency market under the Payment Services Act, Hong Kong under securities-type virtual currency trading, and Japan under the Payment Services Act and the Financial Instruments and Exchange Act.

Advisors Park Jong-baek (Law Firm Taepyungyang), Jo Jeong-hee (Law Firm Sejong), Han Seo-hee (Law Firm Barun), and lawyer Yoon Jong-soo (Law Firm Gwangjang) from the Korea Blockchain Association will serve as presenters at the seminar.

Representative Kim Byung-wook said, “It is an undeniable fact that a huge amount of funds is flowing into the virtual currency market regardless of the government’s position, and taxation will begin next year,” adding, “This is not a general warning to be cautious in investment, but an active review of the system is necessary to protect actual investors.”