South Korea's National Assembly is reportedly set to witness a whirlwind of legislative efforts around cryptocurrencies in the coming days.
Between July 13 and 26, members of a number of Korean political parties are expected to submit bills focused on regulating cryptocurrencies, initial coin offerings and blockchain, according to a report from The Korea Times.
Among the members who are expected to submit bills are Representative Park Yong-jin of the ruling Democratic Party of Korea, Representative Chung Tae-ok of the main opposition Liberty Party Korea and Representative Choung Byoung-gug of the minor opposition Bareun Mirae Party.
According to the Times, members of the Assembly "Remain widely divided" on the issue.
That said, the moves will nonetheless spark a fresh debate over the status of cryptocurrencies in the country, which is home to a vibrant community as well as a number of exchanges.
The focus on ICOs is especially notable, given that Korea was one of a number of countries to ban the blockchain funding model back in 2017.
One member of the Assembly is also holding an event later this month that could have implications for the country's domestic exchange ecosystem.
Rep. Song Hee-kyung, another assembly member from the LPK, will co-host a debate on security for domestic crypto exchanges with the Korea Internet and Security Agency, a government organization that supervises internet and cybersecurity issues, on July 19.
The event comes in the wake of twin exchange hacks - targeting Coinrail and Bithumb - both of which took place in June.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Report: Korean Political Parties to Propose New Crypto Laws
Published on Jul 11, 2018
by Coindesk | Published on Coinage
Twitter Bitcoin Scams Take New Leap After Verified Twitter Accounts Impersonate Elon Musk
Scammers are capitalizing on Musk's Twitter social media prominence to spin out hopes of cryptocurrency returns - with gains even more spectacular than the famed 2017-bull run.
Swiss Stock Exchange Leads the Way with World's First Multiple-Crypto Exchange-Traded Product
In a groundbreaking move, SIX, Switzerland's leading stock exchange with a $1.6 trillion market capitalization, has given the thumbs-up to the world's first multiple-cryptocurrency-based Exchange-Traded Product.
Traders Claim Losses After OKEx Suddenly Settles Bitcoin Cash Contracts
Traders have reportedly incurred losses after Hong Kong-based cryptocurrency exchange OKEx settled bitcoin cash futures contracts almost without warning ahead of last week's hard fork.
Crypto Exchange-Traded Product to Launch on Swiss Stock Exchange
Switzerland is to see the launch of the first ever exchange-traded product tracking multiple cryptocurrencies.