Cryptocurrency and Blockchain comment from South Korean Finance Minister

South Korea’s Finance Minister, Kim Dong-yeon, traveled to China the other day to talk about economic policies.. The minister, who also met with the head of the Chinese central bank here, also discussed the policy of the two countries on Bitcoin and cryptocurrencies.

In a statement to Yonhap after the talks, the minister spoke positively about the potential of Blockchain and said, Blockchain could revolutionize the world.”

Yeon also spoke about the need for greater cooperation with China on Blockchain technology during a meeting with Zhou Xiaochuan, head of China’s central bank, People’s Bank of China.

A 24-year-old Bitcoin millionaire quits his job and travels the world

South According to another Korean news site, Chosun, Minister Yeon reiterated that the country has no plans to ban or restrict cryptocurrencies:

“Blockchain technology is an important technological development to trigger the fourth industrial revolution and our ministry, adopts a cautious approach to regulating the cryptocurrency market. However, our ministry will introduce strict regulations for adverse use cases of cryptocurrencies.”

See cryptocurrencies and Blockchain as inseparable parts

Some of them believe that cryptocurrencies While claiming that it is not necessary to take advantage of blockchain technology, Yeon sees the two as inseparable parts: