Korea's Presidential Committee pushes to give cryptocurrency legal status - Decrypt

in #dlike2 years ago (edited)

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A few days back the China's President Xi Jinping gave a speech in approval of blockchain technology contending that those who adopt the technology early will stay ahead of the curve. Although he did not approve of cryptocurrencies directly, his speech has been interpreted to mean as possible approval of cryptocurrencies, which it may not. 

Now, we have Korea's Presidential Committee openly advocating the official approval of cryptocurrencies by asking the government to give it legal status and institutionalize it. They have also recommended that blockchain startups be given opportunities to operate in regulatory sandboxes. 

By doing so these countries have taken the bull by the horn instead of dodging it like what countries such as India are trying to do. 

Dodging an oncoming bull may save you from injury but without taming it, it wouldn't make you a winner. 

Click the link below for the full story. 

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Greetings dear friend @devann

Coincidentally in my last post I referred to a fairly similar topic.

Many nations are already officially adopting cryptography. The most surprising thing is that the process is moving faster in those countries that were characterized as prohibitive on this matter.

Your friend, Juan.

Thanks for the note friend @juanmolina.

The countries that objected to it are probably the ones who did more research and monitored the situation. They are more proactive than those who are caught up in their own domestic politics and wallowing in their own political quagmire like buffaloes do in the mud.

In this case the facts prove you right my dear friend @devann.

But we cannot deny that it is still amazing and contradictory at the same time.

Why if you were a staunch detractor before, now you are the main promoter?

There must be powerful interests involved.