Korea’s Crypto Industry Condemns Exclusion Plan from Venture Firms List

[Zurcemozz]

Crypto exchanges and blockchain startups in South Korea are protesting against a recent legislative proposal by the government to exclude the industry from recognized venture businesses.

In a proposal outlined by South Korea’s Ministry of SMEs and Startups this week, the government body revealed its intention to exclude the blockchain industry, including cryptocurrency exchanges, from the government’s official classification list of venture firms through a revision to the existing law.

If the proposal is legislated, cryptocurrency startups and brokerages would join a handful of other businesses in the exclusions list, pitting them alongside the bar, gambling and entertainment industry rather than being recognized as startups or SMEs.

The proposal has led to a significant outcry from the collective blockchain industry, the Korea Times reports, with a number of lobby groups including the Korea Blockchain Association, Korea Blockchain Industry Promotion Association and Korea Blockchain Startup Association expressing their concerns vehemently against the proposal.

Source Link : https://www.ccn.com/koreas-crypto-industry-condemns-exclusion-plan-from-venture-firms-list/

[btyco]

This is a shocking move from the south korean government as crypto is a lot more profitable than regular exchanges. You just need to learn the ropes which a pro trader can easily do