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Ripple Talks South Korean Policy Guidelines in Press Release

Published 03/16/2023, 02:30 PM
Updated 03/16/2023, 02:30 PM
Ripple Talks South Korean Policy Guidelines in Press Release

Ripple Talks South Korean Policy Guidelines in Press Release

  • Ripple has stated that South Korean regulators and policymakers need to consider a more targeted approach.
  • Ripple has emphasized the significance of regulatory clarity for digital assets in South Korea.
  • Ripple's whitepaper from March 14th, 2022, has suggested policy recommendations to achieve regulatory changes.
Digital assets have gained significant attention and investment in recent years, and governments worldwide are grappling with how to regulate this rapidly growing market. South Korea is no exception and has introduced regulations for Virtual Asset Service Providers (VASPs) to address consumer protection and risk management.The broad scope of implementation has posed challenges for firms providing digital asset solutions that are not VASPs, leading to a cautious approach by onshore firms.

Addressing these issues, Ripple's most recent press release, dated March 14th, 2023, emphasized...

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