Another Asian country that considers regulating Cryptocurrencies

A South Korean lawmaker is proposing a closer regulation of cryptocurrencies to make safer all Financial Transaction that are Electronic. 

It was announced in South Korean media and newspapers that the proposal of the South Korean Lawyer, Park Yong-Yin was made this week. Park Yong-Yin seems to be one of the most interested politicians in the definition of what are limits that Bitcoin and other cryptocurrencies will have to avoid supporting crime in the cyberspace or in the physical aspect. Moreover, regulating what is the maximum amount that can be traded inside and outside the country to avoid money laundering, blackmail, and other types of crime that can be committed in the Internet. 

Furthermore, most of the countries of the area are looking for regulative laws that make cryptocurrencies such as Bitcoin safer from crime and also a way to contribute to the improvement of the economies of their states. Countries like Japan, Russia and India are part of these group apart from South Korea. In the case of India, the bitcoin exchange regulations have been not so clear and fast but these decisions and proposals that other countries are evaluating make the Indian government hurry their own actions. 

Moreover, many people that buy and sell bitcoins in India fear that the Indian government could ruin Bitcoin exchange if they interfere in a wrong manner with the Bitcoin exchane and prefer that the regulation of cryptocurrencies continue being done by the best Bitcoin exchange companies like Bitxoxo or Unocoin. On the contrary, other people that trade with Bitcoin would prefer that an institutional organism regulates cryptocurrencies because they do not know if the protection given by the companies of bitcoin exchange is enough to protect them from cybercriminals. 

What is completely sure is that Bitcoin popularity grows incredibly day by day. Even highly since the bitcoin fork took place this week and Bitcoin cash arose as another currency that has confused some users and motivated other but has been an event that calls the attention of all the world. This will lead inevitably to see more countries looking for politics that regulate Bitcoin in order to benefit their economies.