We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies. - Korean Bar Association
Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?
No. This kind of news is not enough in my opinion to push the price again although this is really a welcoming news especially for South Koreans. Again, we really do have a lot of interesting news coming out but its seems that investors are no longer interested or just waiting for the big one, SEC ETF's review and decision and the Bakkt physical bitcoin offerings. I think those two will really impact the market in a positive way, so we have to watch out for this news in the next coming days.