On December 28, 2017, a national petition, titled “Has the government ever dreamed a happy dream for the people?” was filed. So far, the petition has received over 215,000 signatures. According to South Korean petition policies, any petition which receives more than 200,000 signatures warrants a response from the government. However, the South Korean government has yet to respond.
In addition, a second petition has been filed demanding that the Financial Supervisory Service governor, Choi Heung-shik, be removed from his position on the grounds of him supporting speculation to the public. Ostensibly, the petition was filed in response to an address that Choi delivered on December 28th, in which he stated that the bitcoin bubble is likely to burst. Currently, this petition has received 37,911 signatures, with the number growing rapidly.
The South Korean government has launched a campaign against the cryptocurrency industry in December 2017. Following the government’s announcement on December 28th, the “Has the government ever dreamed a happy dream for the people?” petition was filed and is scheduled to be open for signatures until January 27th. Blue House policies dictate that once a petition reaches 200,000 signatures, the government will officially respond to it within 30 days.
This number was exceeded earlier this week, as the number of signatures continues to grow. Currently, the petition holds 215,140 signatures.
According to the petition, the dawn of cryptocurrency has enabled the Korean people to have the opportunity to turn their dreams into reality. Due to cryptocurrencies, many feel that they might even be able to buy their own house.
The author also addresses a number of concerns that the government has previously expressed pertaining to the industry, particularly that of illegal gambling. In response to the governments warnings, the majority of cryptocurrency investors are wise with their investment. The author continues and explains that the motivation for investors to chose cryptocurrencies is because it is widely considered to not be some average investment. Investors are not eager to gamble away their cryptocurrency holdings.
After addressing several concerns, the author notes that there is a discrepancy between the way the government views the world and the way the Korean people view the world. The petition emphasizes that while the government believes that regulation should be put in place to protect the people, the people feel that the government is shattering their dreams. Notably, the petition does not object to the proposed real-identity system, which is scheduled to be integrated by the end of January, nor does it object to proposed taxation systems. The petition merely pleads with the government to not take away the dreams of the Korean people and to allow them to participate in the cryptoeconomy.
In the wake of the unrest caused by the impending cryptocurrency regulation discussions, the South Korean Constitutional Court has been engaged in preliminary hearings to discuss the case against cryptocurrency regulation. The preliminary hearings started on December 30th. According to the Korea Times, the Anguk Law Offices appealed the case by stating that the government’s proposed plans of regulation infringed upon the Korean people’s property rights. The preliminary hearings are still in session and the court is yet to decide whether the case warrants a full-blown trial.
In addition, a second petition has been filed demanding that the Financial Supervisory Service governor, Choi Heung-shik, be removed from his position on the grounds of him supporting speculation to the public. Ostensibly, the petition was filed in response to an address that Choi delivered on December 28th, in which he stated that the bitcoin bubble is likely to burst. Currently, this petition has received 37,911 signatures, with the number growing rapidly.
The South Korean government has launched a campaign against the cryptocurrency industry in December 2017. Following the government’s announcement on December 28th, the “Has the government ever dreamed a happy dream for the people?” petition was filed and is scheduled to be open for signatures until January 27th. Blue House policies dictate that once a petition reaches 200,000 signatures, the government will officially respond to it within 30 days.
This number was exceeded earlier this week, as the number of signatures continues to grow. Currently, the petition holds 215,140 signatures.
According to the petition, the dawn of cryptocurrency has enabled the Korean people to have the opportunity to turn their dreams into reality. Due to cryptocurrencies, many feel that they might even be able to buy their own house.
The author also addresses a number of concerns that the government has previously expressed pertaining to the industry, particularly that of illegal gambling. In response to the governments warnings, the majority of cryptocurrency investors are wise with their investment. The author continues and explains that the motivation for investors to chose cryptocurrencies is because it is widely considered to not be some average investment. Investors are not eager to gamble away their cryptocurrency holdings.
After addressing several concerns, the author notes that there is a discrepancy between the way the government views the world and the way the Korean people view the world. The petition emphasizes that while the government believes that regulation should be put in place to protect the people, the people feel that the government is shattering their dreams. Notably, the petition does not object to the proposed real-identity system, which is scheduled to be integrated by the end of January, nor does it object to proposed taxation systems. The petition merely pleads with the government to not take away the dreams of the Korean people and to allow them to participate in the cryptoeconomy.
In the wake of the unrest caused by the impending cryptocurrency regulation discussions, the South Korean Constitutional Court has been engaged in preliminary hearings to discuss the case against cryptocurrency regulation. The preliminary hearings started on December 30th. According to the Korea Times, the Anguk Law Offices appealed the case by stating that the government’s proposed plans of regulation infringed upon the Korean people’s property rights. The preliminary hearings are still in session and the court is yet to decide whether the case warrants a full-blown trial.