Legislative movement to include cryptocurrencies such as bitcoin in the institutional sphere has started in earnest. The ruling party legislator proposed the first bill, and it focused on protecting investors by prohibiting unfair activities such as market price manipulation and allowing unfair gains to be confiscated.
Reporter Hwa Gang-yoon on the report.
legislation of the Virtual Capital Industry Act, jointly initiated by 20 ruling party lawmakers led by Democratic Party Rep. Lee Yong-
contains the content of bringing virtual currency into the institutional sphere and managing it and protecting investors.
It is prohibited to manipulate the market price by setting a purchase period or spreading false information, and the gains obtained from unfair trade can be confiscated and collected.
In addition, the exchange has also made it possible for the exchange to bear the obligation to prevent hacking damage and to compensate for the damage.
[Lee Yong-woo/Deo-eo Democratic Party Member: If it exists in reality and many people participate, how to reduce the damage to users and how to make order
? It clarified the government's administrative responsibilities by providing for inspection by the Financial Supervisory Service.
Starting with this bill, related laws will be proposed one after another, but the government is firmly saying that virtual assets are speculative targets that have no intrinsic value and investors are not subject to protection, so even the actual legislation is expected to suffer.
[Ki-Hoon Hong/Professor of Hongik University Business Administration: If you say that you approved an exchange while not being regulated as much as the (Stock Exchange), the power given by that wording as an authorized exchange can be very dangerous.]
However, related to insolvent exchanges Consensus on investor protection is ripe, as damage continues to occur.
As Prime Minister Kim Bu-gyeom also stressed that the government's onlook is irresponsible, it is noteworthy whether the National Assembly and the government will find a compromise.
(Video coverage: Kim Min-cheol, Video editing: Kim Jun-hee)