• Latest
South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance

South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance

January 6, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance

coinnewsdaily by coinnewsdaily
January 6, 2020
in Tech
0
South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea.

In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed that the government could move to bring cryptocurrencies into the mainstream of finance through a number of measures, including derivatives.

With cryptocurrency trading surging worldwide, “it is no longer possible to stop crypto-asset trade,” said the PCFIR, as per a report by Business Korea on Monday.

The commission said that the government could follow the lead of U.S. regulators and sanction products such as futures contracts tied to bitcoin. Institutions would also be allowed to offer other cryptocurrency services, such as trading.

“The Korean government has to gradually allow institutional investors to deal in crypto assets and promote over the counter (OTC) desks dedicated to institutional investors’ trade,” the commission said in the report.

To support such a move, the nation’s fintech sector should develop custody solutions for cryptocurrency to avoid a reliance on foreign custodians, said the PCFIR.

Addressing crypto exchanges, the commission said the government should look into bringing in a licensing scheme or guidance. The industry is currently loosely controlled via guidance given to banks and a South Korean financial watchdog under the Financial Services Commission is also reportedly aiming to directly supervise exchanges.

Other suggestions from the PCFIR included, notably, that bitcoin might be directly listed on Korea Exchange, the nation’s securities bourse, and that the terms cryptocurrency and virtual currency could be brought together under the umbrella term crypto assets.

The PCFIR was set up in 2017 to advise on policies relating to new technologies and help lay the groundwork for related new industries and services.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Tags: Crypto Tech
Share76Tweet47
Previous Post

Bitcoin Mining Power Hits Fresh All-Time High

Next Post

Rivals Signature Bank and Prime Trust Team up to Offer Instant Payments for Institutions

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
‘Already Live’: Signature Bank Is Moving Millions on a JPMorgan-Like Private, Dollar-Backed Cryptocurrency

Rivals Signature Bank and Prime Trust Team up to Offer Instant Payments for Institutions

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$22,709.00-4.51%
  • ethereumEthereum(ETH)$1,550.73-5.66%
  • tetherTether(USDT)$1.00-0.21%
  • binancecoinBNB(BNB)$305.12-4.11%
  • rippleXRP(XRP)$0.395975-4.63%
  • cardanoCardano(ADA)$0.370672-6.37%
  • dogecoinDogecoin(DOGE)$0.087504-2.93%
  • matic-networkPolygon(MATIC)$1.08-8.23%
  • okbOKB(OKB)$36.92-7.32%
  • solanaSolana(SOL)$23.55-10.24%
  • polkadotPolkadot(DOT)$6.13-7.54%
  • shiba-inuShiba Inu(SHIB)$0.000011-5.54%
  • litecoinLitecoin(LTC)$89.71-7.29%
  • tronTRON(TRX)$0.062152-2.98%
  • daiDai(DAI)$1.000.05%
  • cosmosCosmos Hub(ATOM)$12.96-6.64%
  • chainlinkChainlink(LINK)$6.85-7.64%
  • leo-tokenLEO Token(LEO)$3.57-3.40%
  • moneroMonero(XMR)$176.15-5.51%
  • ethereum-classicEthereum Classic(ETC)$21.19-6.61%
  • bitcoin-cashBitcoin Cash(BCH)$129.26-6.06%
  • stellarStellar(XLM)$0.089147-4.31%
  • crypto-com-chainCronos(CRO)$0.077287-6.24%
  • filecoinFilecoin(FIL)$4.98-8.95%
  • algorandAlgorand(ALGO)$0.239271-9.07%
  • vechainVeChain(VET)$0.023015-6.66%
  • internet-computerInternet Computer(ICP)$5.68-8.41%
  • aaveAave(AAVE)$79.96-9.26%
  • eosEOS(EOS)$1.04-6.24%
  • elrond-erd-2MultiversX(EGLD)$41.99-7.24%
  • theta-tokenTheta Network(THETA)$1.01-9.54%
  • tezosTezos(XTZ)$1.06-9.54%
  • paxos-standardPax Dollar(USDP)$1.000.64%
  • huobi-tokenHuobi(HT)$5.08-1.56%
  • bitcoin-cash-svBitcoin SV(BSV)$42.32-4.44%
  • havvenSynthetix Network(SNX)$2.21-10.55%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.95-4.69%
  • dashDash(DASH)$58.661.80%
  • iotaIOTA(MIOTA)$0.222565-7.73%
  • zcashZcash(ZEC)$44.23-6.68%
  • makerMaker(MKR)$627.67-6.55%
  • neoNEO(NEO)$8.01-4.69%
  • zilliqaZilliqa(ZIL)$0.026531-10.05%
  • basic-attention-tokenBasic Attention(BAT)$0.245691-9.96%
  • compound-governance-tokenCompound(COMP)$51.33-8.52%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • nemNEM(XEM)$0.036412-8.59%
  • kusamaKusama(KSM)$33.98-7.94%
  • bitcoin-goldBitcoin Gold(BTG)$16.46-7.48%
  • qtumQtum(QTUM)$2.740.66%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • wavesWaves(WAVES)$2.44-10.93%
  • sushiSushi(SUSHI)$1.23-8.54%
  • yearn-financeyearn.finance(YFI)$7,096.54-8.34%
  • golemGolem(GLM)$0.231044-6.96%
  • omisegoOMG Network(OMG)$1.38-9.67%
  • ontologyOntology(ONT)$0.206869-5.81%
  • digibyteDigiByte(DGB)$0.010065-8.53%
  • umaUMA(UMA)$1.97-7.62%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%