CEO Dunamu: Calls on the government to allow IE0, and the digital asset market needs to be differentiated from the existing market

On March 16th, Lee Sir-goo, CEO of Dunamu, an operator of Upbit, a South Korean cryptocurrency trading platform, called on the government to allow the initial trading platform (IE0) of cryptocurrency trading platforms at the DCON 2023: Creating a Healthy Market Digital Assets Conference in Seoul, saying that the digital asset market needs to be differentiated from the existing market, and (IE0 legislation) has not been discussed in depth so far, Although the government has expressed its intention to do so. He said that even in the fledgling Token securities market, it is necessary to create digital financial innovation by encouraging the active participation of innovative blockchain companies.

Interpretation of this information:

Lee Sir-goo, the CEO of Dunamu, spoke at the DCON 2023: Creating a Healthy Market Digital Assets Conference in Seoul on March 16th. He called on the South Korean government to allow initial trading platforms (IE0) for cryptocurrency trading platforms. Sir-goo emphasized that the digital asset market needs to be distinguished from the existing market and that IE0 legislation has not yet been thoroughly discussed, even though the government has expressed its intention to do so. He argued that it is essential to encourage the active participation of innovative blockchain companies to create digital financial innovation, even in the fledgling token securities market.

Sir-goo’s speech gets to the heart of the challenges and opportunities facing the cryptocurrency and digital assets industry in South Korea. His call for IE0 legislation is based on the view that the government should support cryptocurrency innovation and encourage its adoption rather than treating it like an extension of traditional finance.

South Korea is one of the world’s leading cryptocurrency markets, and Upbit, Dunamu’s platform, is one of its major players. Despite this, there is a regulatory framework that needs to be developed to ensure that the digital asset market can operate safely and effectively. Sir-goo’s focus on differentiation is significant, as it underscores the need for a distinct regulatory regime for digital assets rather than treating them like equities or commodities.

One point that Sir-goo emphasizes is the need to encourage participation from innovative blockchain companies. This is significant, as it suggests that South Korea’s digital assets industry needs to remain open to new ideas and approaches. In a rapidly evolving market, it is essential to identify and support promising ventures that can drive innovation and growth.

In conclusion, Lee Sir-goo’s speech highlights the importance of creating a clear regulatory framework for digital assets and cryptocurrency trading platforms. He argues that IE0 legislation is a necessary step to differentiate the digital asset market from the traditional financial market. He also emphasizes the importance of incentivizing innovative blockchain companies to participate in the market, driving digital financial innovation.