Crypto is not a financial asset: Seung-beom Koh

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A candidate for president of South Korea’s Financial Services Commission (FSC) viewed crypto as a non-financial asset.

Even with a lot of volatility in the crypto market, adoption as a trading crypto market is by no means stopping. And it is getting more and more popular day by day. In addition, the government of South Korea is ready to embrace the crypto market within a certain framework, but there are still many Korean figures who do not view crypto as a big thing in terms of financial assets.

Related: Korea To Ban All Crypto Exchanges Executed Without Permission

In a press Meet along with a Korean journalist, South Korea’s Financial Services Commission presidential candidate (Seung-beom Koh) said that according to research from organizations like the G20, IMF and a few others, crypto assets cannot be considered as financial assets.

“Find it hard to see virtual currencies as a financial asset and think they could not function as a currency”

In fact, Seung-beom took the reference from a Korea Times report. According to a Korean Times report, most adults are eager to get into crypto for short-term profit and they also think crypto is a good chance to make money to buy a house.

Koh also added that this kind of activity which increases the inclination of adults towards crypto, will end up having a negative result for the economy. So to increase household debt, Koh said

“The FSC will continue existing anti-debt measures and propose additional measures, if necessary, mobilizing all available political means. “

Also read: Brazilian police will use Bitcoin King’s Lamborghini


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