South Korean blockchain experts ask government for help – Bits Media

Digital Asset Industry Committee (KDAIC) South Korea called for the creation of a special government body to help digital asset businesses.

A group of blockchain experts formed the Digital Asset Industry Committee and launched an initiative make the country a leader in the crypto industry. The committee called on the government to create a state structure, which will be authorized to provide support in promoting crypto startups.

First of all, experts called on the government to support business, working with DeFi, DAO, NFTs and metaverses.

“In the era of the fourth industrial revolution, true digital transformation means taking advantage of growing business opportunities, associated with digital assets. We need a government organization, which could support entrepreneurs, using new technologies", — said Incutech CEO Song In-kyu.

According to KDAIC participants, in South Korea, it is enough to create 10 unicorn startups in the digital asset market, to make the country the fifth largest economy with a gross national income of more than $50,000 per capita.

Rules for companies, working with cryptocurrencies, in South Korea is called one of the harshest. Currently in order 200 small and medium-sized crypto exchanges in the country were forced to cease their activities. South Korea's Constitutional Court rejected the lawsuit on Wednesday., who challenged the law, prohibiting gamers from buying and selling cryptocurrency and NFTs.