CryptoQuant CEO Comments On Bitcoin's Challenges In South Korea

According to Odaily, Ki Young Ju, the founder and CEO of CryptoQuant, recently expressed his views on social media platform X, suggesting that if Michael Saylor, the founder of MicroStrategy, were born in South Korea, he might face imprisonment. Ju highlighted the challenges Bitcoin faces in South Korea, describing it as a nation not particularly friendly towards the cryptocurrency. He emphasized the difficulty in promoting Bitcoin adoption among companies or the government without politicians who truly understand the digital currency. Ju further elaborated on the situation, stating that the South Korean President lacks knowledge about Bitcoin. He also pointed out the conflicting attitudes within the country's regulatory bodies. The South Korean Securities and Exchange Commission reportedly harbors a dislike for Bitcoin, while the National Tax Service is interested in taxing it. This lack of coordination among the authorities, according to Ju, results in a chaotic situation regarding Bitcoin's status and regulation in South Korea.