February 10, 2025

South Korean State Committee recommends adding bitcoin to the stock exchange

South Korean State Committee recommends adding bitcoin to the stock exchange

The South Korean Presidential Committee on the Fourth Industrial Revolution recommended that the government launch the process of institutionalizing cryptocurrencies.

The committee proposed adding bitcoin to the list of trading instruments of the Korea Stock Exchange, and allowing financial institutions to launch and use crypto derivatives.

In addition, the government was recommended to consider the possibility of licensing businesses related to digital assets or developing legal regulations for their exchange, as well as to study the issue of their integration into thethe country's financial system in the long run.

According to officials, the daily trade turnovercryptocurrencies in the world are about $ 68 billion and it is no longer possible to stop this process, therefore, the government should gradually allow institutional investors to work with crypto assets and facilitate over-the-counter trading.

Although the committee promoting advanced technologies proposes to support the crypto industry, the South Korean authorities are still ambivalent about this direction.For example, the tax service recently issued an additional invoice of $70 million to the Bithumb exchange for cryptocurrency trading until 2018, despite the fact that this is not provided for by law.

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