Ethereum co-founder Vitalik Buterin says South Korea should remove regulations

Vitalik Buterin, programmer and co-founder of Ethereum, commented that the South Korean government should "eliminate Blockchain regulations and embrace cryptocurrencies." Vitalik, along with lawmakers from the Asian nation, asked the authorities to consider dispensing with some laws. As they explained, these are "too rigid" as they do not allow the advancement of blockchain innovation in the country and slow down the growth of the decentralized economy.

The main Ethereum development platforms, such as Yearn the main De-Fi platform, 1inch one of the most important exchanges with the largest blockchain development, EliteCoin a decentralized platform focused on potential institutional ICOs... among others.

Buterin, for his part, said that the future should be related to the trend of cryptoassets, encouraging the adoption by the government.

For according to various sources, the South Korean government has initiated plans to promote the implementation of blockchain technology under its parameters. However, on the other side, they have declared themselves in total disagreement with allowing cryptoassets within their borders. The latter, also includes initial coin offerings (ICOs for short). Vitalik Buterin assures that the ICO process has improved over the years, and many scams related to them have been avoided.

South Korea has great potential to become a world reference in the field of blockchain and cryptocurrencies. Therefore, it is estimated that the pressure will lead to the cessation of regulations in favor of development in the Asian country.