South Korea to switch course on crypto amid backlash over regulator’s remarks

Newly elected South Korean Prime Minister Kim Boo-kyum appears to be leading an embrace of the cryptocurrency sector among lawmakers, following a public outcry over disdainful comments on cryptos made by the chief of the country’s top finance sector regulator.

Fast Facts:

  • Kim said in a television interview this week that virtual assets involved risk, and put regulation on the agenda, saying, “There will definitely be an effort to manage transparency in transactions,” and alluding to Singapore as a potential model for South Korea’s approach to cryptos.

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