South Korea s Capital Is Planning to Launch Its Own Cryptocurrency

We want to be the most transparent of all exchanges and meet the requirements of the Swiss regulator, he said. It is the first city in Korea to create a roadmap for introducing the blockchain. The end result is that they are being forced to innovate on security and scaling solutions. As such, we have added a new policy for Twitter Ads related to cryptocurrency.

Korea s SK Telecom to Build Blockchain for Identity and Asset

Less than two weeks ago, the social media giant announced it was developing new policies which would lead to the eventual ban of cryptocurrency and ICO-related advertisements on its platform. Efforts initially began in December 2017 when a task force led by the Financial Supervisory Service (FSS) implemented the first official rules surrounding cryptocurrency trading in the country. Mayor Park Won-soon announced the plan during an interview with. South Koreas top two cryptocurrency exchanges, Bithumb and Upbit, support Icon for trading where the new coin has been listed since March. City governments often hold many records of interest to blockchain specialists, including property records, ID records, zoning codes, business and health licenses, as well as construction permits.

South Korea Wants to Set a Desirable Cryptocurrency and Blockchain

The move comes just a month after rival South Korean telecoms firm, Korea Telecom (KT announced plans to better protect its infrastructure with a blockchain-powered security solution. Cryptocurrency awareness and adoption are already widespread throughout the country.

South Korea - Top Latest News on Cointelegraph

Seoul city image from Shutterstock. Businesses like Korea Telecom (KT for example, are already working to determine how the blockchain can be used to lessen production expenses and generate new types of revenue.

GlobalData: South Korea Among the World s Leading Markets for

As a result, the government is likely to support balanced regulation when it comes to cryptocurrencies. Selva Ozelli, Esq., CPA is an international tax attorney and CPA who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the oecd.

Bitcoin Magazine s Week in Review: South Korea Rises

Is the most-valuable multinational tech company by market capitalization and is at the heart of Blockchain innovation in South Korea. While it is typically used for recording financial transactions in real time, the blockchain is also being studied and explored by enterprises around the world for its abilities to store additional data in a safe and cost-effective manner. This week's tories contributed by Jeremy Epstein, Nick Marinoff and Amy Castor. History shows that the way in which a country embraces and regulates new technology can make an enormous difference in the development of the country.