How Crypto Entrepreneurs See South Korea’s Cryptocurrency Journey – Irish Tech News

Written by David Drake

The Central Bank of Korea, also known as Bank of Korea has ‘affirmed’ its position that cryptocurrencies do not pose a significant threat to the local financial landscape.  According to media reports, the bank stated that the level of investment in digital assets is not big compared to that in local financial institutions and equity markets.

As such, the potential risk that digital assets pose is insignificant and so the Bank of Korea does not expect crypto-assets to have widespread impact on the financial market in South Korea.

Positive Reception

The announcement was received positively by the cryptocurrency community. According to Antonio Sainz, co-founder and CEO at INCLUSIVITY, South Korea, has made it clear the path it wants to take with cryptocurrencies. He says:

“In the cryptocurrency market there are two positions, those who want to lead the market and not lose this opportunity and the fearful who seek protection via regulations and who…