Editor's PiCK
Han Dong-hoon "Cryptocurrency regulations should be eased... ETF introduction also necessary"
Summary
- Former People Power Party leader Han Dong-hoon stated that regulations should be eased and Korea should become a cryptocurrency-centric country.
- He emphasized that cryptocurrency regulations could lead to capital outflow, and that spot exchange-traded funds (ETFs) need to be introduced.
- He noted that introducing Bitcoin ETFs would have an effect of institutional incorporation and that corporations should be allowed to purchase cryptocurrencies.
Former People Power Party leader Han Dong-hoon stated that "Korea should ease (cryptocurrency) regulations."
During a YouTube broadcast on the 8th, the former leader said, "Korea should become a cryptocurrency-centric country," making this statement. Han pointed out that "those who want to regulate do not understand the essence of cryptocurrency," and warned that "if (regulations are) done incorrectly, capital outflow could occur."
He also emphasized the need to introduce cryptocurrency spot exchange-traded funds (ETFs). Han said, "There's no reason not to have spot ETFs when we already have futures ETFs (for Bitcoin)," adding that "introducing (Bitcoin) ETFs would also have some effect of institutional incorporation." He stated, "I believe corporations should also be allowed to purchase (cryptocurrencies)," and that "(cryptocurrency) policies should be implemented with a focus on national interests and practicality."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
