The South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into â€œdomestic asset marketsâ€ and thus bringing more opportunities in that regard.
Economic Agenda Also Targets Stock Market Investments With a Focus on Youth
According to the statement released by Hankook Ilbo, Hong Nam-ki â€“ who is also the countryâ€™s finance minister, said that itâ€™s necessary to â€œreinforce policy details and support efforts for the domestic asset market, where the interest of young people is high,â€ referring to cryptocurrency markets.
Such words came forward in the wake of the governmentâ€™s plans to approach three aspects of the economy, said the Deputy Prime Minister, including youth employment, housing, and â€œasset formation.â€
Furthermore, Hong highlighted the â€œhigh interestâ€ among the South Korean youth in domestic digital asset market policies. That said, the media outlet stated that the Deputy Prime Minister also included the stock markets within the governmentâ€™s economic agenda that targets younger people.
Interestingly, the fact that Hong has addressed the cryptocurrency topic, which had become a hot potato for the lawmakers, is a surprising move. In March 2021, he referred to cryptocurrencies with harsh words, saying that itâ€™s an â€œoverheated marketâ€ that â€œcan be problematic.â€
At that time, Hong commented:
Democratic Party Seeking to Catch Youth Vote
Also, the governmentâ€™s rhetoric on targeting younger citizens in their economic plan is, on the contrary, not a surprising move.
Considering that national elections will occur in 2022, the Democratic party is the ruling one. A political party that is now battling to catch these voters amid the disappointment that arose due to the stricter crypto regulations.
As Bitcoin.com News reported early this month, Koh Yong Jin, the Secretary of the ruling party of the National Assemblyâ€™s Strategy and Finance Committee, stated theyâ€™re contemplating ways to postpone the timing of the new financial rules on cryptocurrencies. â€œIâ€™ll hear if itâ€™s right to delay,â€ he said.
What do you think about the words from the South Korean Deputy Prime Minister? Let us know in the comments section below.
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