Ethereum co-founder Vitalik Buterin and a bipartisan group of lawmakers urged the South Korean government to deregulate the blockchain industry. They say the current laws are overly restrictive and therefore, inhibit innovation.
Buterin was reacting to the Korean government’s “blockchain, not bitcoin” stance. South Korean officials have repeatedly tried to promote blockchain while undermining cryptocurrencies and banning ICOs.
But Buterin said crypto and blockchain are too intertwined and cannot be separated. Besides, he says, ICOs are starting to rehabilitate their sleazy image after a number of scams were stamped out.