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Pension Fund of South Korea invests in crypto-currencies

The weekend brought another portion of news from South Korea. One of the most important was the fact that the South Korean Pension Fund invested 2.6 billion won in the Korbit, Bithumb and Upbit crypto currency exchanges.

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While the South Korean department is gradually tightening the rules for regulating digital currencies, the National Pension Fund is one of the most active participants in the trade, investing billions of won in stock exchanges that manage their assets. This news came from Emchat, which, in turn, referred to several local media.

South Korean National Pension Fund is the third largest pension fund in South Korea. The total number of investment funds on the territory of the country is more than 700 pieces, but only 28 of them decided to invest in crypto money, although the Ministry of Strategy and Finance in advance began to “scare” all the risks of such investments, arguing that we have already heard from official regulators of various countries of the world.

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Representatives of the national pension fund said that they had studied all possible risks and are ready to accept them, taking advantage of the right to invest in this industry.

Remember that from the 30th of this month, South Korean traders have to buy and sell digital currencies only after the identification procedure, made with the help of a personal bank account. Those who ignore the demands of the authorities face fines or imprisonment.

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The post Pension Fund of South Korea invests in crypto-currencies appeared first on Pypur.com.



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