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'Crypto haven' government officials to gather in Seoul

September 5, 2018

High-level officials from Estonia, Switzerland, Malta, Hong Kong, Singapore, and Lithuania -- considered as havens for cryptocurrency firms -- will gather in Seoul to discuss the best policies for fostering blockchain ecosystems.

 

High-level officials from countries that are considered havens for cryptocurrency firms will gather in Seoul later this month to discuss the future of policy.

 

Representatives from Estonia, Switzerland, Malta, Singapore, Lithuania, and the city of Hong Kong will discuss their respective country policy concerning blockchain at the three-day Blockchain Seoul tradeshow from September 17 to 19 at COEX D Hall.

 

Governor Won Hee-ryong of Jeju Island, South Korea's Special Self-Governing Province, will also attend. The province announced last month that it aims to become a special industrial zone for blockchain companies.

 

Also in attendance will be Estonian Cryptocurrency Association CEO Asse Sauga, Singapore FinTech Association President Chia Hock Lai, IDACB Malta Chairman Oliver La Rosa, Hong Kong Blockchain Association co-chairman Tony Tong, Minister of Finance of the Republic of Lithuania Vilius Sapoka, and Member of Regulatory & Policy Working Group of the Crypto Valley Association of Switzerland Cecilia Mueller-Chen.

 

The countries have been dubbed as "Crypto Valley" by some for their cryptocurrency-friendly policies.

 

Hong Kong and Singapore, for instance, hosted many companies from mainland China following the ICO ban announced there last year.

 

South Korea is yet to announce a clear policy to regulate the cryptoccurency market. The government earlier this year ruled out a trading ban but said it aimed for more transparency. A clearer policy is likely to be announced before the end of the year.

 

Big companies are adopting blockchain to their services in Korea, though they are yet to publicly designate tokens due to the government's currently ambiguous stance.

 

Authorities have also commenced multiple raids on exchanges in the country.



By Cho Mu-Hyun

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