Former South Korean Deputy Minister of Economy Becomes CEO of Blockchain Research Institute

Kim Yong-bum, First Deputy Minister of the Ministry of Economy and Finance of South Korea from 2019 to 2021, will join Hashed Open Research, a blockchain and digital technology research institute, as CEO.

This entity aims to act as a bridge between local cryptocurrency experts and governments.

  • According to the document shared crypto potatoYong-beom Kim’s main task as CEO of Hashed Open Research is to establish a constructive dialogue between Korean cryptocurrency participants and domestic legislators.
  • Kim has pledged to use his extensive expertise to help the company progress. Organizing in-depth seminars and research activities is also on his agenda.
  • A former senior government official opined that applying comprehensive rules to the local digital asset sector could be very beneficial for South Korea. He argued that the combined high-tech vision of the United States could put the country on par with the United States.
  • The former deputy minister is considered an expert in the financial field. Over the course of his career, he served as Deputy Chairman of the Financial Services Commission (FSC) and Chairman of the Securities and Futures Commission (SFC) within his FSC.
  • During the crypto winter of 2018, Kim called for special regulations to be applied to the space to prevent bad actors from using the asset class for criminal activity.
  • In 2019, he was appointed first vice minister of the Ministry of Economy and Finance of South Korea. As such, he suggested that local cryptocurrency exchanges should be subject to maintenance and taxation.

Featured image courtesy of KoreaTimes

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