June 6, 2023

Bitcoin proposed to be listed on South Korea's largest exchange

Presidential Committee on the Fourth Industrial Revolution proposes to include Bitcoin in Korean listing stock exchanges (KRX) - one of the largest trading floors in the world where stocks, bonds and futures are traded.

According to Business Korea, the committee alsoproposed to allow the country to trade derivatives based on bitcoin and other cryptocurrencies. In addition, the agency recommended that the government consider introducing business licenses for companies working with new assets, "the trade of which can no longer be stopped."

"The Korean government should graduallyapprove the activities of institutional investors in the field of crypto assets and facilitate the work of OTC (OTC) platforms aimed at large traders ”, - representatives of the committee said.

The department also advised the country's authorities to develop their own custodial solutions in order to save the market from dependence on similar foreign companies.

Recall that the South Korean government plans to introduce a capital gains tax for transactions with bitcoin and other cryptocurrencies.