The Government of South Korea officially recognized the exchange of crypto-currencies as full legal entities, thereby strengthening their position in the country’s economy, Bitcoinist reports  .

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According to the local information center  B-Chain  , within the new “classification” of the company’s blockchain , crypto-instruments are allocated to a separate class of enterprises – “crypto-currency exchanges and brokers”.

Previously, as  Joseph Young told  Twitter , lawmakers attributed them to “communications providers”.

Also, according to the proposed classification, the blockchain platform of the platform, like EOS and Efirium, refers to “the business of providing and developing software based on blockchain technology.”

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In the future, the classification will be refined and subcategories will appear, B-Chain reports, referring to the source in the government of South Korea.

The final version of the classification, the South Korean government plans to release at the end of July, after it gathers the views of more than 160 organizations. According to government officials, the government will conduct a global survey of crypto currency participants and will rely on the collected data for subsequent regulatory measures.

The classification proposed by the government is another step towards recognizing the industry. Since the beginning of the year, the actions of regulators were difficult to call friendly towards crypto, but at the end of May it became known that the government was ready to change its position.

In June, the Ministry of Science and Computer Technology of South Korea presented a strategy for the development of the blockchain industry in the country, under which the government has already allocated $ 200 million.

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