Virtual Currencies are Corrupting our Youth, Says South Korean Leader
The Prime Minister of South Korea says Bitcoin and cryptocurrencies are causing serious psychological damage to the next generation.
His ominous warning was translated by CNBC:
“Young Koreans including students are jumping in to make quick money and virtual currencies are used in illegal activities like drug dealing or multi-level marketing for frauds… this can lead to serious distortion or social pathological phenomena, if left unaddressed.”
The South Korean leader is calling on the government to investigate his concerns.
The country is reportedly close to releasing rough drafts on its plans for tighter cryptocurrency regulation. South Korea accounts for about 18% of global market activity.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.