South Korea Passes Act to Initiate Blockchain Regulatory Sandbox

The South Korea Financial Supervisory Service (FSS), an agency setting financial policy and regulatory supervision, has passed the "Special Act on Financial Innovation Support" covering innovative financial services and also intended to provide institutional support from government agencies relating to blockchain technology, as reported by Naver News (English version from TheNews.asia). 

The National Assembly anticipates that the enactment of laws should take place end of Q1 2019 and implementation in Q2. The Act is also intended to provide supplementary legal grounds for investment in the FinTech industry.

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