The VP of Ripple, Eric van Miltenburg, considers that the South Korean government needs to review some of its the most restrictive cryptocurrency laws. In his phone interview with The Korea Times, Van Miltenburg also added that setting the stage for digital currencies could contribute to the country’s transformation into a global powerhouse.

In addition, Ripple’s Senior VP noted the importance of crypto regulations that would protect customers without restraining the market growth:

We think it needs to be a regulation that bounces, that protects consumers without stealing or prohibiting innovation.”

Eric van Miltenburg encouraged the Government of South Korea to focus not only on drawbacks of the latest technologies.

We recall that ICOs were prohibited in South Korea in September 2017, with subsequent adoption of strict crypto regulations.