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Democratic Party lawmaker Kim Byeong-wook, a secretary of the ruling party of the National Assembly’s Political Affairs Committee, said on the 6th regarding cryptocurrency (virtual box mountain), “In the big frame, I think we should look at it from the perspective of making food for the future in terms of industrial development.”
Rep. Kim said in an interview with KBS Radio’Chief Management’s Strongest Preview’, saying, “There will be considerable future growth and scalability of the virtual industry based on blockchain technology.”
Rep. Kim said of the dot-com bubble in the early 2000s, “At that time, there were many controversies about the bubble of dot-com companies whether the state invested in this Internet company while putting in policy funds, but in the end, they were the basis for it. “I think it has contributed considerably to making Korea an IT powerhouse,” he said. “(Cryptocurrency market) is also clearly negative, but it is necessary for the financial authorities and politicians to legislate in the direction of promoting the positive aspect and reducing the negative aspect.” did.
He said, “Isn’t there anything different from the Korean financial authorities’ perspective from 4 years ago? This is the point of disappointment we see,” he said. “This (cryptocurrency) is still ambiguous. If you keep away from it because it’s dangerous, it’s rather negative than the positive side. “The side could be revealed, and the deterioration could build up positives.”
Regarding the way to legalize the cryptocurrency market, Congressman Kim said, “The focus is on investor protection.” “I am worried about whether it is right to give autonomy and impose responsibility to private exchanges.”
Also, “I make a white paper when issuing coins, but it is necessary to check whether the project is performing well according to this white paper. Can you accurately and timely deliver a lot of information about coins to investors? It is important,” he stressed.
Rep. Kim said, “I don’t think it’s going to happen,” he said. “I don’t think it’s possible that cryptocurrency prices may skyrocket when legalized,” he said. “The so-called jobcoin, altcoin, in the process of being institutionalized, can also earn time to organize in the market. I think there will be.”