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South Korea Pushes for a Bitcoin Reserve. Will This Benefit BTC Bull Token Presale? | Global News Avenue

South Korea Pushes for a Bitcoin Reserve. Will This Benefit BTC Bull Token Presale?

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This article is also available in Spanish.

South Korea’s Democrats call for the establishment of Bitcoin reserves in their country in response to Trump’s announcement of US Bitcoin reserves.

With the national race to hoard Bitcoin, the price of $BTC can only gather. If you want to take the action, it’s worth checking out a meme coin designed to ride on Bitcoin’s Coattails, BTC Bull Token ($ btcbull).

South Korea gets clues from the United States

Trump signed an executive order just two days ago Establish Bitcoin Reserves in the United Statescalled it “digital gold of digital Knox”.

He also made plans to build a bunch of stable plans in the country The best altcoins. As expected, this has begun a global crypto race, with South Korea being one of the first countries to jump into the trend.

South Korea’s rapid response was surprising because it has been slow to adopt and regulate cryptocurrencies.

For example, non-residents are not allowed to trade on South Korea’s crypto exchanges, and the country still bans crypto ETFs.

After catching up for so long, South Korea seems to be driving to replace the new crypto world order.

Kim Jong Il, CEO of blockchain company Crypton, said it was time for the South Korean government to think of a stable stablecoin that it won and developed a model that links these models to dollar stablecoins.

He warned that South Korea could lose “monetary sovereignty” if the dollar-fixed Stablecoins became a staple in the industry.

Japan relaxes the rules of encrypted brokerage

On the other hand, Japan has been actively working to keep pace with the global crypto competition.

The country has proposed an amendment that allows crypto companies to act as intermediaries. This means they no longer need the same license as crypto exchanges and crypto wallet operators.

Stablecoin issuers will also be able to use Japanese and U.S. government bonds to support their coins.

Earlier, these issues had to maintain cash deposits in bank accounts at a 1:1 ratio, with the total number of circulation.

However, issuers can now only use bonds to support 50% of this amount, while the rest will be held in cash.

Cryptocurrency brokers will also get rid of the application of anti-money laundering regulations, which will reduce barriers to entry. Also talk about reducing cryptocurrency tax from 55% to 20%.

It is obvious that Trump has put many countries in a crazy situation in negotiations about U.S. bitcoin reserves, which should ultimately benefit basic assets (i.e., bitcoin).

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