South Korean officials: Failure to introduce planned crypto law will lead to more bankrupt companies

According to Cryptonews, the agenda of the National Assembly of South Korea has been chaotic due to a corona virus outbreak. An industry official said that without introducing planned legal changes, the crypto industry will face increased uncertainty and the number of companies forced to declare bankruptcy will rise sharply. Another industry insider who spoke on condition of anonymity said that the Special Financial Action Act would help the cryptocurrency industry gain legitimacy and help alleviate management-related uncertainties. If the deadline is missed, the industry will be hit hard.