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South Korea Snubs Crypto Exchanges, Draws Criticism From Local Blockchain Associations

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Wed, 15/08/2018 - 17:50
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South Korea Snubs Crypto Exchanges, Draws Criticism From Local Blockchain Associations
Cover image via U.Today
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The decision of the South Korean MSS not to classify cryptocurrency exchanges as venture enterprises didn’t resonate well with the local crypto community as Blockchain associations feverishly object the plan.
The government basically puts exchanges in the same league with nightclubs if the aforementioned legislation gets implemented. According the Korea Blockchain Association, that would create hurdles for utilizing the innovative Blockchain technology. On top of that, it would strip crypto exchanges of the existing tax perks.

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The controversial proposal will be under review until Sept. 4.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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