South Korea's National Cryptocurrency Market Conference and Urges Companies to Conduct Rigorous Research on Crypto Transactions

On November 18, the Korean Conference announced a Virtual Currency Market Bill that imposes tighter controls on virtual currency trading by companies. The invoice is called Know-the-Sender (KTS) and requires the personal identity of the sender of the cryptocurrency. Some lawmakers believe this only affects the growth and innovation of the crypto space. The bill is controversial in the National Assembly, and lawmakers and some blockchain industry experts have submitted arguments against the bill to the National Assembly's Political Affairs Committee. Lawyer Jong-su Yoon believes that as digital products become more popular, self-identification of suppliers will become more difficult or expensive, and businesses will have to pay more. (Geek Corner)