The government of Korea is finalizing the first crypto and blockchain legislation to recognize the cryptocurrency and blockchain sector as legitimate industries. When there was a security breach in Bithumb and Coinrail, the government acknowledged the necessity of strict regulatory frameworks to oversee the local cryptocurrency market. The digital asset exchanges will be considered as regulated financial institutions and will be under the control of the FSC. The vast majority of analysts are predicting the price of major digital assets to surge drastically by the year’s end and sustain strong momentum over the next 12 months.

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