Ripple Senior Vice President Eric van Miltenburg believes that the current crypto regulations in South Korea need to be relaxed. Instead, more crypto-friendly regulations should be in place. Miltenburg argues that the growth of the industry could further establish South Korea as an economic powerhouse.
According to Miltenburg:
“We think it needs to be a regulation that bounces, that protects consumers without stealing or prohibiting innovation.”
Miltenburg urged the government to consider the potential gains from the industry and not just focus on the negative aspects of it as other countries do.
“Frankly, if you think back to the early age of the internet, some people only looked at the negative aspects of the internet saying we should shut it down for a while until we figure out what’s going on, and what’s good and what’s bad.”
A Partnership Between Ripple and Korea University
Miltenburg also made mention about the company’s collaboration with different universities around the world. Korea University has already partnered with Ripple to establish its blockchain security study center.
Commenting on the project, Miltenburg explained:
“We are looking for schools already involved in blockchain that have some professors that have seen the potential of blockchain. We wanted to help accelerate what those faculties and administrators are trying to do.”