South Korea government legalised cryptocurrency in terms of trading and holding them.

The amendment to the Act on Reporting and Use of Specific Financial Information passed through a full session of National Assembly.

Passing the amendment means the South Korean government legally entering cryptocurrency trading and holding in the legal system.

The implementation process will begin after President Jae-in Moon signs the amendment passed in the parliament of the country. It'll take a year from the signing date, followed by a grace period of 6 months.

This means that, by September 2021, all companies affected by the law will have to be fully compliant.

So far, everybody in South Korea might start a crypto-currency exchange- fo that reason in September 2019, there were over 70 exchanges in the country.

It is a for sure a great information in process to mass adoption of crypto world

South Korea with population of 51,709,098 is on 27th place in all countries by population!

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