South Korean Prime Minister: Bitcoin harms young people and makes them fall into pyramid schemes or drugs

Beijing time, November 28 afternoon news, South Korean Prime Minister Lee Nak-yeon criticized digital cryptocurrencies this week, saying that the existence of digital currencies may lead young people into pyramid schemes or drug crimes. At a meeting of the South Korean cabinet on Tuesday, South Korean government officials discussed young people's acceptance of digital cryptocurrencies.

Li Luoyuan said many students were entering the "booming" market to make quick money, and some of them were involved in fraudulent criminal activities.

South Korean Prime Minister Lee Nak-yeon

“If we let things go on like this, it could cause serious problems,” he said, noting that South Korea’s cryptocurrency exchanges are already larger than the Kosdaq index, which currently has a total market capitalization of $252 billion.

South Korea's Bithumb is one of the world's largest bitcoin exchanges by trading volume. (Qiu Yue)

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.