Renvale Capital Meets to Discuss South Korean Legislation on Cryptocurrencies
In order to discuss the latest trends and legislation in cryptocurrencies, Renvale Capital held their Annual Meet the Profession Networking Dinner on July the 30th in South Korea. At the event were present the firm’s upper management, key stakeholders and legal advisories.
This event is held by the company with the intention to understand the current crypto space, regulations and the ongoing business landscape. All the invited experts have been talking about their past experience, and giving insights and analysis about ongoing matters in the market.
The event has been held for the first time in the Asian country and the Guest of Honor was the Chief Superintendent General and Commissioner of the Korea police agency. He was talking about legal points in different stages of the event. He has also given his comments on crypto legislation in South Korea and how other countries are dealing with regulations.
Renvale Capital decided to host the event in South Korea for the important crypto market it has and because it wants to expand into the Asian market. At the same time, the Guest of Honor has explained the company’s key personnel about the current view on cryptocurrencies and its legislations.
Virtual currencies are searching for a legal framework where to operate. The main purpose is to protect investors from possible scams or fraudulent activities. Additionally, blockchain applications will also play an important role in the fourth industrial revolution that involves big data, virtual currencies and technological developments.
Renvale Capital CEO, Will Collins, commented:
“As the world increasingly regulates the blockchain space, it inadvertently lays the foundation for a healthier environment and on a fundamental level, be only seen as success.”
As the South Korean government realized how much potential virtual currencies have, they want to create a safe environment where these crypto-related companies could operate. It will be possible, then, to gain an important attention from investors all over the world.
The government and regulatory agencies in the country are working in order to better understand blockchain technology and its different categories. Furthermore, they are planning new regulations for virtual currency exchanges.
Exchanges and other crypto-platforms are starting to be recognized as important and legal actors in the market. This is a key point to understand, governments are recognizing the system as legitimate. The crypto world in South Korea will keep growing because of these rules, helping it to become more mature as month pass.