The Deputy Prime Minister of South Korea issued a statement that opened the door to future open dialogues on the topic of virtual currency, and the South Korean government seems to be relaxing its anti-encryption tone. Hong Nanji announced that officials are evaluating ways to allow young people to enter the “domestic asset market”, thereby bringing more opportunities in this regard.
The economic agenda also targets young people’s stock market investment
According to a statement issued by South Korea’s Minister of the Treasury Hankook Ilbo, he is also the country’s finance minister. He said that it is necessary to “strengthen policy details and provide support for the domestic asset market where young people are interested,” referring to the cryptocurrency market.
The Deputy Prime Minister said that after the government planned to address three aspects of the economy, such remarks emerged, including youth employment, housing and “asset formation.”
In addition, Hong emphasized the “high interest” of young Koreans in domestic digital asset market policies. Having said that, media reports stated that the deputy prime minister also included the stock market on the government’s economic agenda for young people.
Interestingly, Hong has solved the topic of cryptocurrency. This fact has become a hot spot for lawmakers. This is a surprising move. In March 2021, he mentioned cryptocurrency in harsh words and said that it was an “overheated market” and “may have problems.”
At that time, Hong commented:
Compared with their actual value, the virtual asset and crypto asset sector is overheating.
Democrats seek youth votes
Similarly, the government’s comments on young citizens in its economic plan are exactly the opposite, which is not a surprising move.
Considering that the national election will be held in 2022, the Democratic Party is the ruling party. Amidst the disappointment caused by stricter encryption regulations, a party is struggling to capture these voters.
As reported by Bitcoin.com News earlier this month, Koh Yong Jin, secretary of the ruling party of the National Assembly’s Strategy and Finance Committee, stated that they are considering delaying the timetable for the new cryptocurrency financial rules. He said: “I will delay whether it is appropriate.”
What do you think of the words of the Deputy Prime Minister of South Korea? Let us know in the comments section below.
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