South Korea about to Regulate Bitcoin

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Rep. Park Yong-Jin, the leader of Democratic Party of South Korea announced this week that authorities are planning to introduce three bills in July to review the regulatory rules for digital currencies such as Bitcoin and Ethereum with the aim to protect local investors and traders from potential risks of unregulated crypotcurrencies transactions.

Park Young-Jin described this decision as “the void of a state-led protection that guarantees digital currency’s value,” as well as “the possibility of wreaking havoc on national economy from digital currency bubble burst.”

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