Eric van Miltenburg, the Senior VP of Ripple, believes that South Korea needs to relax some of its more stringent cryptocurrency laws. He made his views known in a recent phone chat with The Korea Times. He also said the emerging digital currency landscape could propel the country into becoming a global economic powerhouse.
Encouraging the Nascent Cryptocurrency Market
Miltenburg stated the need for cryptocurrency regulations that promoted the market rather than stifling its growth, saying:
We think it needs to be a regulation that bounces, that protects consumers without stealing or prohibiting innovation.
He urged the South Korean government not to be one of those countries who only focus on the negative aspects of emerging technologies. In September 2017, ICOs were banned in South Korea followed by a raft of other strict cryptocurrency regulations.
We’ve seen that in other countries and in other technologies where you found a bounce. Frankly, if you think back to the early age of the internet, some people only looked at the negative aspects of the internet saying we should shut it down for a while until we figure out what’s going on, and what’s good and what’ …
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