A South Korean government department is urging lawmakers to let financial institutions launch cryptocurrency-related products. The 4th Industrial Revolution Commission under the Presidential Office says the likes of Bitcoin derivatives should be instrumental as part of a medium- and long-term strategy to integrate cryptocurrencies into the economy. Business Korea reports the commission has advised the South Korean government to allow financial companies to release futures products based on Bitcoin prices, similar to the US. The commission also proposed allowing financial institutions to handle crypto-assets and support the development of custody technology. "Participants in the traditional capital market such as securities firms and banks should develop and introduce domestic custody solutions to handle crypto assets so that the Korean crypto-asset custodyThe post South Korea ‘should let banks launch cryptocurrency fintech’ appeared first on Coin Rivet.
