Watching South Korea and their regulations related to Bitcoin and other cryptocurrencies has been exhausting. It would be bad enough if their regulations only impacted their own citizens, but the fact is, every time South Korea makes a move related to crypto, the market responds. This is because the country has huge potential for bringing not only lots of money, but also significant innovation into the crypto industry.
With this in mind, many people who invest in cryptocurrency watch the regulators of South Korea very closely, and it seems that there are signs that they are nearly ready to make their (hopefully) final decisions.
Most reports are suggesting that the country will treat Bitcoin specifically, and all of crypto in general, very much like they do ‘liquid assets.’ This is largely being seen as a positive move that, if it actually materializes, will surely give Bitcoin a much-needed boost. The Korea Accounting Institute, which is where the claim that crypto will be treated as liquid assets, is also claiming that the new regulations will be ready in March.
While this is certainly an important piece of information, a lot can change. As with any country, nothing is really settled until it is placed into law. And even then, it is only settled for now.
Anyone involved in crypto, however, should see this as a very positive development, and one that we can hope will move forward as quickly as possible.
