RATE Group | Korea Needs to Allow Financial Companies to Release Cryptocurrency-related Products, a P…
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Korea Needs to Allow Financial Companies to Release Cryptocurrency-related Products, a P…

06 Jan Korea Needs to Allow Financial Companies to Release Cryptocurrency-related Products, a P…

Posted at 09:09h in Cryptocurrency News by

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The 4th Industrial Revolution Commission suggests that the Korean government allow financial institutions to launch cryptocurrency-related products, such as Bitcoin derivatives.



The 4th Industrial Revolution Commission under the Presidential Office suggested that the Korean government allow financial institutions to launch cryptocurrency-related products, such as Bitcoin derivatives, as a medium- and long-term strategy for the institutionalization of cryptocurrencies.

As digital finance is emerging as a major keyword for both the financial sector and the blockchain and cryptocurrency industry, the commission advised the Korean government to allow financial companies to release futures products based on Bitcoin prices, as the U.S. financial authorities did. In addition, the commission recommended that the financial sector develop and introduce a Korean custody solution to avoid relying solely on foreign custodians in the process of handling crypto assets.

The 4th…

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