Korea’s Presidential Commission Wants Country to Permit Companies to Use Cryptocurrency

A South Korean presidential commission is appealing to the government to give financial firms the opportunity to create products linked with cryptocurrency i.e. the Bitcoin derivatives, a local media in the country has reported.

The 4th Industrial Revolution Commission, a part of the Presidential Office, made the suggestions to the country’s government, proposing that they give room to crypto derivatives among other crypto-linked innovations, to enable Korea the opportunity to initiate medium and long term ideas for the industrialization of its economy.

Considering the growing adoption of blockchain and cryptocurrency across the world, the need for Korea to stand up to the task and embrace the technology become very important, the commission suggested to the Korean government, advising further that they allow financial firms in the country to make use of crypto futures that are based on Bitcoin, the same way the United States financial regulators…