Government “Cryptographic Exchange is not eligible for venture support”

The small and medium-sized venture business group said that it will withdraw the cryptographic exchange from the venture enterprise among 10 domestic block-chain-based industries. According to the Ministry of Small Business and Venture Business, the measure is to prevent adverse effects such as speculation overheating, money laundering and hacking.

The Small and Medium Venture Business Department said that it does not intend to regulate or regulate the cryptographic disclosure of ICOs, but said that the exchange is not a target for the government to encourage venture businesses as the speculation overheating and social problems arise. A cryptographic exchange is a company that specializes in the sale or brokering of cryptographic assets. Companies that promote their own ICO projects are not classified as such cryptographic exchange.

In addition, the Ministry of Small and Medium-sized Venture Business reaffirmed its policy to cooperate with related ministries such as the block-chain technology development strategy announced by the Ministry of Science and Technology in June to foster the block chain technology and related companies in the government level.