Crypto OTC Exchange in Korea to Gov’t: Acknowledge Fidelity, Nasdaq

At the first official meeting between five of the biggest crypto exchanges and the government of South Korea, Cumberland Korea CEO Hong Joon-ki said that both the government and local financial institutions have to acknowledge the efforts of Nasdaq, Fidelity, and some of the largest conglomerates in the global market working to strengthen the infrastructure around cryptocurrencies.

Hong, who has been leading the operations of Cumberland, a major over-the-counter (OTC) exchange in South Korea, told government officials including several congressmen, members of the National Assembly, and Financial Services Commission (FSC) authorities that the government has to be aware of the rate at which the cryptocurrency sector is growing with the involvement of major financial firms.

In the third quarter of 2018 alone, the world’s two largest stock exchanges NYSE and Nasdaq along with the global market’s fourth biggest asset manager Fidelity established Bitcoin ventures such as…