Korea’s Largest Cities Want to Become Crypto Capitals, Market Optimistic

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Following the release of a new regulatory framework for crypto businesses and blockchain projects, major cities in South Korea have started to build regional policies to fuel the growth of cryptocurrency-related companies.Country’s Second Biggest City Wants to be Like ZugThis month, Oh Keo-don, the mayor of Busan, the second largest city in South Korea behind Seoul from the country’s ruling party, has stated that the regional government of Busan is focused on building the next “Crypto Valley” of the world in South Korea, inspired by the success of Zug, Switzerland.Mayor Oh emphasized that Zug already has more than 2,500 blockchain projects and produced over 11,000 blockchain-related job throughout the past two years, noting that Busan could create a vibrant cryptocurrency industry with friendly regulations and policies.Since mid-2017, the demand for cryptocurrencies from investors in the traditional finance market of South Korea has increased substantially, and the awareness of digital