The ruling party of South Korea is reportedly considering introducing new measures for blockchain-based platforms
New legislation for “blockchain-based platforms” is currently under consideration, though little detail has been provided
A self-regulatory body that would oversee market conditions and monitor for compliance is also being considered
South Korea’s ruling party is reportedly weighing up new measures in the spirit of consumer protection following recent market turbulence that has shaken confidence and raised fears of an impending large-scale crypto contagion.
People Power Party (PPP) chief policymaker Rep. Sung Il-jong said Monday his party is considering introducing legislation for “blockchain-based platforms,” without divulging exactly what is planned, in order to better protect investors.
The minister voiced the government’s intentions during a party-government consultative meeting on digital assets on Monday.
Sung alluded to portions already included in the special...
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