International experts from the seven countries, including Estonia, Switzerland, Hong Kong, Singapore, the Bahamas, Lituania, and Korea shared information about cryptocurrency-friendly policies in their countries on Sept.19 on the second day of the three-day Blockchain tradeshow at Seoul’s COEX Hall.
Estonian Cryptocurrency Association CEO Asse Sauga said Estonia has been making efforts for digitalization of the country for the past two decades. The CEO said Estonia is moving from the centralized digitalized service to the blockchain-based decentralized service and system for the people
Cecilia Mueller-Chen, a member of the Crypto Valley Association of Switzerland, said investors, companies, the association, and the government are working for the development of the blockchain ecosystem.
Cecilia said the Swiss government encourages self-regulation and freewheeling environment for startups, adding that the Swiss government has been proactively embracing cryptocurrency as financial innovation, Cecilia said Switzerland is studying model cases of the other countries to establish rules, regulations, and recommendations for blockchain and cyber currency.
Hong Kong Blockchain Association Co-chairman Tony Tong said Hong Kong is cooperating with Taiwan, Singapore, and Switzerland for developing the blockchain industry. Tony noted China’s too tight rules forced many Chinese blockchain producers to move to Hong Kong. He said China has no room for the initial coin offering (ICO) market.
Beijing and other cities ban any events on cryptocurrency and blockchain. Hong Kong is a favorite place for cryptocurrency investors, he said.
Singapore FinTech Association President Chia Hock Lai said Singapore is now the best fintech hub, predicting that Singapore could become the blockchain center in Asia. Singapore is now establishing many good-intentioned rules for cryptocurrencies.
Bahamas’ minister Don G. Cornish said the Bahamas has been making it easier for businesspersons around the world to do business on cryptocurrency, the blockchain, and fintech. He noted that Bahama is a home for many notable global multinational enterprises.
Lithuanian Finance Minister Vilius Sapoka said his country had become the third largest country in attracting crypto capital.
However, he cautioned over the cryptocurrency, urging all countries around the world to establish laws and rules for the collective management of cyber currencies.
