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8 November
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The Korean Bar Association has called on the government to establish a legal framework for the cryptocurrency and blockchain sector, according to the public statement that was made on a news conference at the Korean parliament.

As it was reported by Reuters, the association urged the government to develop laws designed to protect investors whilst encouraging the domestic blockchain industry.

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” said the president of Bar Association Kim Hyun

The Bar Association represents a member body of all local lawyers in South Korea. It was created when the government pointedly excluded the domestic blockchain industry including all cryptocurrency exchanges from the recognized list of certified venture firms in the country.

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