South Korea to Regulate Bitcoin as Commodity

[CryptoGirl]

South Korean central bank Bank of Korea (BOK) governor, Lee Joo-yeol, has announced that Bitcoin will be regulated as a commodity rather than as a currency. The governor, however, claimed that the central bank will not be launching the regulation very soon.

“It is difficult to look at [virtual currencies] as money by [the definition] of Bank of International Settlements (BIS). Regulation (of virtual currencies) is appropriate because it is regarded as a commodity. It [cannot be] regulated at the level of a currency.”

http://www.yonhapnews.co.kr/bulletin/2017/10/23/0200000000AKR20171023147100002.HTML

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South Korean central bank Bank of Korea (BOK) governor, Lee Joo-yeol, has announced that Bitcoin will be regulated as a commodity rather than as a currency. The governor, however, claimed that the central bank will not be launching the regulation very soon.

“It is difficult to look at [virtual currencies] as money by [the definition] of Bank of International Settlements (BIS). Regulation (of virtual currencies) is appropriate because it is regarded as a commodity. It [cannot be] regulated at the level of a currency.”

http://www.yonhapnews.co.kr/bulletin/2017/10/23/0200000000AKR20171023147100002.HTML

But it's not a commodity, it's crypto currency

[rahul10948]

it does not matter at-least they legalize bitcoin

[Femhabe]

Lmao....Bitcoin has both the property of commodities and currencies, it doesn't really matter as to under which they classified it, what matters is that one more country finally legalize BTC.
Either as a currency or commodity, it would be exchange with a FIAT system. Who cares if they make it a store of value which it is already, BTC is decentralized no country can classify if BTC classify itself.

[meizu pkwn]

Great to hear it's..supports 100%