RATE Group | South Korean Ministry Drops Cryptocurrency Exchanges From Venture Enterprise Classificat…
38803
post-template-default,single,single-post,postid-38803,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

South Korean Ministry Drops Cryptocurrency Exchanges From Venture Enterprise Classificat…

14 Aug South Korean Ministry Drops Cryptocurrency Exchanges From Venture Enterprise Classificat…

Posted at 19:51h in Cryptocurrency News by

[ad_1]

The government of South Korea announced it had excluded cryptocurrency exchanges from legislation governing venture businesses in a press release issued Monday, August 13.

The brief document from the country’s Ministry of Small and medium-sized enterprises (SMEs) and Startups (MSS) explained that contrary to previous decisions, it would now place exchanges alongside bars and nightclubs as businesses that it would “not encourage as a venture enterprise.”

A rough translation of part of the press release explains:

“The Small and Medium Venture Business Department [of the MSS] has no intention to regulate cryptocurrency trading and disclosures (ICOs), but as problems such as speculation emerge, cryptocurrency exchanges are not a target for the government to encourage as a venture enterprise.”

The MSS added, “[w]e will also foster blockchain technology and related companies at the government level.”

South Korea continues its intense reshaping of the regulatory landscape…

[ad_2]

Source link

Tags:
, , , , , , , ,