"If the government does not normalize the regulation of coin issuance and the screening function for cryptocurrency exchanges, the domestic exchanges will just become an exchange booth."

Choi Soo-hyuk, CEO of the blockchain platform SymVerse, said, “The blockchain industry and digital asset market are growing explosively, but Korea (government-induced) is already experiencing losing competitiveness in various fields due to the problem of reverse discrimination.”
CEO Choi is also the chairman of the Korea Blockchain Startup Association, which involves more than 200 blockchain companies.

About 20 people from related industries and academia, including blockchain, cryptocurrency, finance, and information technology (IT), attended the workshop and held discussions.

CEO Choi analyzed, “The digital asset market based on blockchain is growing rapidly, but in Korea, institutional maintenance is slow, and the polarization of the market is happening, where the bad drives out the good’.”

He also stressed the need for institutional devices to transparently manage the cryptocurrency exchange listing policies and standards, pointing out that the extreme policies of neglect or regulation will weaken the competitiveness of the domestic industry and worsen the outflow of national wealth.

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