SEOUL, Dec. 3 (UPI) -- Participants in a Korea Blockchain Association forum in Seoul on Wednesday called on the government to take more proactive measures to boost blockchain technologies.
Association Vice Chairman Moon Young-bae took issue with the country's positive regulation system, under which explicit permission is required before launching new business activities.
By contrast, he said that the United States and other advanced economies brace for a negative regulation framework, which generally allows business activities unless they are specifically prohibited.
"The Seoul administration has attempted to heavily regulate the blockchain industry related to coins or tokens. On the flip side of the coin, however, there is extraordinary technology at work called blockchain," Moon said.
Related
