In an interview with Blockchain Today, a Korean magazine specialized in blockchain, Tae Eon Koo, attorney-at-law and head of the Tech Group at LIN, introduced the Tech Group and expressed his professional views on blockchain and IT, as well as his opinions on related legislations.
Koo said that he believes the internet and blockchain are technologies that can perfect democracy, and he became immersed in the industry from a legal and philosophical perspective. He also mentioned that he is currently a member of the government's 'Digital Platform Government Committee' and is involved in a government platformization project, while contributing to the launch of the Busan Digital Asset Exchange.
Regarding the trends in the blockchain industry, he said that the market is confused because regulation on the issuance has not yet been introduced, and he hopes that this issue will be resolved through the 'Framework Act on Digital Assets,' that the government will work on. He also emphasized that regulation on the issuance is a prerequisite to reduce blockchain-related damages and create more unicorn companies.
Among the crypto-related bills currently being discussed, he pointed out the importance of the 'Framework Act on Digital Assets' and predicted that when this Act is implemented, it will become impossible to tokenize or issue crypto assets. Regarding STOs, in February last year, the Financial Services Commission announced a plan to overhaul the distribution system for token securities, but since the amendments to the Capital Markets Act and the Act on Electronic Registration of Stocks are currently pending in the National Assembly, if they are not passed in May, they will be automatically scrapped, and they will be reintroduced in the 22nd National Assembly, and if passed, it will be possible to issue token securities.
As for CBDCs, he explained that as we are already living in a cashless world, it's a natural progression that we will have CBDCs in a few years, and he added that he expects them to be used for interbank payments or national debt payments, etc.
Finally, regarding blockchain-related bills, he said that if the industry fails to self-regulate, it will be regulated, and that he hopes that the ‘Framework Act on Digital Assets’ will be enacted this year so that the industry can grow healthily. Koo believes that blockchain is the path to self-governance, and he hopes to make a significant contribution along the way.
LIN’s Tech Group, led by Tae Eon Koo, has 11 subgroups specialized in areas ranging from digital assets to personal information, platforms, and digital healthcare, with a total of 20 partners and 35 associates, and is a large group where experts in various fields collaborate organically to provide integrated solutions.
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Blockchain Today
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https://www.blockchaintoday.co.kr/news/articleView.html?idxno=43705