Mark Zuckerberg Defends Freedom of Expression but Not Mentions Libra
Libra, other stablecoins could hinder efforts to halt criminal use: FATF
Ripple CEO claims to sign over 30 deals a week with financial institutions for blockchain payments
Fake Tor Browser Has Been Spying, Stealing Bitcoin ‘For Years’
Raiffeisen Among 18 Banks in First Global Tokenized Collateral Trial
Huobi To Start Tether Trading For ‘Important’ Turkey Lira By End Of 2019
Crypto-jackers now using fake WordPress plug-ins to mine cryptocurrencies
Huobi announces plans to launch fiat gateway in Turkey
G-7 Task Force Releases Full Report on Impact of Global Stablecoins
Libra Roundup: G7 Voice Concerns, Senator Adds Support, New Study Emerges
Local Cryptocurrency To See Launch for Ise-Shima Region in Japan
Upbit Operator Dunamu to Build OTC Stock Platform
Huobi launching fiat-to-crypto gateway in Turkey later this year
R3 partners with London-based Archax to manage post-trade activites
New Tax Form Requires IRS To Question Your Crypto Ownership
Global Crisis Looms as IMF Report Cites Its Own Policy as Dangerous
Stablecoins Pose More Issues Than Benefits – G7 Task Force Report
Cardano And New Balance Team Up To Create NB Realchain
Richard Branson’s Space Tourism Company Virgin Galactic to Go Public in Q4 2019
Bank of Canada Warms To National Cryptocurrency, Will it Compete Against Bitcoin?
Germany Allows Huawei Into Its 5G Networks despite U.S. Pressure
Korea: Opposition Party Boasts Pro-Crypto Policy in Contrast to Gov’t
South Korea’s main opposition party, the Liberty Korea Party (LKP), is poised to unveil its policy for cryptocurrencies and crypto exchanges.
As Cointelegraph Korea reported on Sept. 19, the LKP’s stance appears to be more radical and pro-innovation than that of the current government, notably in its support for the authorization of tokenized securities.Authorizing security token offerings and asset tokenization
The LKP is scheduled to hold a “People’s Report Meeting” at the National Assembly building in Seoul, on Sept. 22, where the party will unveil its final “2020 Economic Transformation” plan.
The LKP’s Kim Gwang-Lim — a sitting member of the National Assembly’s Strategy and Finance Committee — has revealed that the report was finalized following three months’ work by senior LKP members together with 90 civilian experts from diverse fields.
This public-private consultation has culminated in a policy to boost Korea’s cryptocurrency industry as part of a Fourth Industrial Revolution “Digital Finance Korea” initiative.
The policy directly opposes the incumbent government’s pro-blockchain, anti-cryptocurrency stance and puts forward the pro-innovation agenda of authorizing blockchain-based securities token issuance and asset tokenization.
As Cointelegraph Korea notes, such a stance aligns with positions currently under consideration in the United States and Japan, where lawmakers are looking to accelerate the institutionalization of the asset class by bringing it under an existing securities regulatory framework.
The KLP’s proposal goes yet further in arguing that cryptocurrency exchanges could function as a competitive counterpart to the legacy Korea Exchange, by offering 24/7 liquidity for alternative investment financial products such as security tokens.Opposition and government positions could eventually align
Cointelegraph Korea reports that the KLP seeks to mitigate current regulatory uncertainty and act on the advice of private-sector experts, who have argued that the cryptocurrency industry should be legalized under the premise of investor protection.
Given the speed of the new sector’s development, legal experts have meanwhile advised that the “government should flexibly discipline or prepare only minimum laws and systems according to existing laws such as capital market laws rather than legislate hastily.”
As regards domestic crypto exchanges, the KLP is advocating a policy that would strengthen international cooperation systems to mitigate risks such as money laundering.
Noting the recent announcement from Korea’s Financial Services Commission that it plans to bring crypto exchanges under its direct regulation, some observers have argued that opposition and government positions may ultimately converge.