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Samsung Cryptocurrency: Does the group have a cryptocurrency, wallet, NFT or token?

According to a report by news agency NewsPim, seven prominent local companies in South Korea have submitted applications to establish cryptocurrency exchanges next year.

BREAKING NEWS 🚨: 🔸 Giant Samsung plans to launch a #crypto platform in the first half of 2023 in South Korea

The financial arm of the group SamsungSamsung Securities is listed in the report as a company seeking preliminary approval for CEX operations in the first half of 2023.

Conducts research Samsung on the best ways to enter the cryptocurrency industry. The group tried to spearhead the creation of a cryptocurrency trading platform last year, but was unable to do so due to a lack of qualified personnel.

Samsung Securities is determining the best approach to providing South Korean consumers with NFTs, tokenized securities and eventually cryptocurrencies.

New Pro-crypto President?

According to a news source, Yun Suk-Yeol’s election as president may be a game-changer for cryptocurrencies. The new president elected in May campaigned calling for the adoption of a pro-crypto policy, greater economic stability for all social groups and a change in the country’s diplomatic relations with China.

Pro-Bitcoin politician Yoon Suk-yeol elected president of South Korea 🇰🇷 “To realize the limitless potential of the crypto-asset market, we need to revise regulations that are far from realistic” #bitcoin (Source: @BitcoinMagazine )

The South Korean government is also working on legislation to provide managers to the sector regulatory clear.

The law should clarify more clearly which digital assets are securities and which tokens are not. Furthermore, the categorization will differentiate between wallet services, digital asset custody services and other services.

The South Korean government has recently targeted many cryptocurrency exchanges for bad behavior, even as regulations on digital assets appeared to be relaxing. Last week, the authorities took action against sixteen unregistered exchanges that offered their services in the country.

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Please exercise caution and consult your financial advisor before making any investment decisions. Mirror-Mag cannot be held responsible for bad investments. Before using any third-party service, you should do your own research.

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