Last weekend Roger Ver visited Jeju island to promote the use of cryptocurrencies and to discuss the future of the industry and the blockchain with the Governor of the island Won Hye-Rangam.
Mr. Heh-Reng publicly announced its intention to develop the island of Jeju in the near future to turn it into an Asian equivalent of Zug and Malta, which are famous for its supportive regulatory databases focused on cryptocurrency businesses.
Directly into the cryptocurrency conference in which the Governor participated, Roger Ver wants to show the transaction rate of Bitcoin Cash, sent him $100 in BCH.
After Ver sent the money, one of the aides of the Governor told him that the country has a “Policy of Kim Jong-Rena”, according to which higher officials should not accept a gift of things worth more than $30. Ver technically broke the law, but made a remark to him he answered:
“And then what? Is it not possible just to send the Governor the money?”
The Governor decided not to aggravate the already tense situation and stood up for Roger’s Faith, saying that he was just joking. With regard to the transferred money, given the fact that the transfer took place publicly, this transaction will be recorded as a charitable contribution.
Why Ver on Jeju island?
Due to the fact that soon will be the first cryptocurrency adoption of the law of South Korea, Jeju island and other regional governments including Busan and Cajun publicly announced its intention to focus on expanding local cryptocurrency market and the widespread introduction of blockchain.
Jeju island — a unique territorial object in South Korea, which is considered a special economic zone. Most Federal regulations do not apply to him, allowing the authorities of the island to develop its legislation and conduct its own policy.
The authorities of Jeju island study various possible normative frameworks that they can apply in addition to national legislation in the field of cryptocurrency to create a friendly ecosystem for companies in this sector.
In addition to tax incentives, the government of Jeju island announced that it will abandon the ban on ICO that will allow local startups to sell tokens in South Korea, and Jeju island.