From Bitcoin.com
The South Korean National Pension Fund has been indirectly investing billions of won in cryptocurrency exchanges such as Upbit, Bithumb, and Korbit. This was revealed amid the country’s regulators continually releasing regulatory measures for cryptocurrencies.Read more: https://news.bitcoin.com/south-korean-national-pension-fund-invests-crypto-exchanges/Investments In Crypto Exchanges
South Korean National Pension Fund Indirectly Invests In Crypto ExchangesAmid South Korean regulators pushing to regulate the country’s cryptocurrency market and the Ministry of Justice drafting a bill to ban crypto trading, local media report that the country’s National Pension Service (NPS) has been indirectly investing in cryptocurrency exchanges.South Korea’s NPS is the world’s third-largest pension fund. It was established in 1987 to “help secure the retirement benefits of Korean citizens with income security, thereby promoting national welfare in the case of retirement, disability or death,” its website states.
Lee Chan-yeol, an NPS officer, was quoted by News1 on Thursday:
The National Pension Fund invested 2.6 billion won in four cryptocurrency exchanges through two venture capital funds.
Well this is some interesting news out of Korea after a few weeks of nothing but FUD from the 3rd largest crypto trading market on the planet. This news helps soothe concerns about crypto's longevity on the Korean peninsula. Once the institutions are on board we're here to stay!
Leave your thoughts in the comments below.
Follow
to stay up to date on more great posts like this one.
