South Korea Prime Minister Says Crypto Corrupts the Youth

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"There are cases in which young Koreans including students are jumping in to make quick money and virtual currencies are used in illegal activities like drug dealing or multi-level marketing for frauds," Prime Minister Lee Nak-yeon said in a statement translated from Korean by CNBC.

He added:

   

"This can lead to serious distortion or social pathological phenomena, if left unaddressed."