South Korean government: It is closely watching the trend of the encryption market, and investors are advised to invest in virtual currency carefully.

On May 28th, the South Korean government convened a meeting of relevant departments chaired by the head of the State Affairs Adjustment Office (including the Ministry of Enterprise, the Ministry of Justice and the Finance Committee) to discuss the recent trends in the virtual currency market. The following points are highlighted: 1. Recently, the price of virtual currency has risen sharply, and the government is paying close attention to the market situation. 2. Lu Yuxu, director of the State Affairs Adjustment Office, said that virtual currency is not a legal currency, and no one can protect it. Therefore, illegal activities, speculative demand, and domestic and international regulatory environment Changes and other factors will cause large fluctuations in the virtual currency market, causing large losses; 3. Re-emphasizing the need to carefully invest in a series of behaviors such as virtual currency; 4. The government will continue to closely monitor market conditions and actively respond to avoid investor losses; 5. For fraud, pyramid schemes and other illegal activities, the government will strictly control through financial institutions and other institutions; 6. Considering the results of the ICO (Initial Coin Offering) survey ("19.1") and international trends, I hope that Congress will pass the "Specific Finance" as soon as possible. Amendments to the Information Act to prevent money laundering.