The Korea Digital Asset Industry Committee comprising of leading Blockchain experts in South Korea has called for the formation of a government committee dedicated to helping and advancing digital asset businesses in the country.
The group of experts gathered on Thursday to discuss various ways in which Korea could become a leading digital asset market and what role the should government play to achieve that. The experts believed that blockchain and cryptocurrencies would become pivotal tools for the fourth industrial revolution.
The blockchain experts called upon the government to support the nascent cryptocurrency industry along with other emerging use cases such as decentralized finance, decentralized autonomous organizations nonfungible tokens, and the metaverse.
South Korea’s crypto regulations are seen as one of the toughest, given nearly 200 small to medium-sized crypto exchanges had to shut their operations after regulators mandatory for crypto exchanges to form real-name bank accounts for users.