South Korean Optimistic about Crypto despite it not being a “encouraged business”

The South Korean Ministry of small and medium sized enterprises has dropped cryptocurrency exchanges from its list of “encouraged venture enterprises”. But South Koreans don’t really seem to care about that at all as optimism for the future of cryptocurrency is at a high point right now because the government regulations for cryptocurrency are finally being hammered out and uncertainty in the market is slowly decreasing. The South Korean government has also budgeted 1 trillion won(almost $900,000,000) to the development and education and training of blockchain technology which will help a lot in fostering the new technology and get more people familiar with cryptocurrency. Jeju Island, which operates outside of the main South Korean Government is also looking to become a crypto haven like Malta to encourage blockchain companies to move there for more unrestrictive regulations and could be an alternative for crypto companies moving to other countries. These few things leave South Koreans very optimistic about the future of cryptocurrency.

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