Published on July 12th, 2018 | by bitcoin0
South Korean MLAs work for Fast Track Cryptocarvoicity and Blackhorn Regulations
A report published on Wednesday, July 11, by The Korea Times suggests that South Korean legislators are all set to submit the draft bills to regulate the country’s cryptocurrency, blockchain and ICO markets.
Members from across the political parties of South Korea will be submitting their respective bills for the legal status of digital currencies and the regulations for the local crypto exchanges.
The bills are expected to serve a common purpose to combat the menace of cybercrimes, money laundering and personal data leaks.
However, this discussion can be considered as an attempt to fast-track the regulatory process pertaining to South Korea’s cryptocurrency market.
All eyes will be on this as multiple cases of cryptocurrency hacks being reported in the past few months worldwide.