District Judge Forms Blockchain Law Study Group in South Korea

A group of judges, lawmakers and industry experts in South Korea are forming a new group to discuss legal issues related to blockchain technology.

Called Blockchain Law Society, the group will hold its foundation conference on August 24th in Seoul Central District Court, during which participants will discuss both regulatory issues related to the blockchain and how to use technology in the legal space.

According to a press release published Monday, Jung-yeop Lee, the president of the district court in the city of Daejeon, founded the organization as an 'initiative led by industry' to promote dialogue to the Internal justice and legislative arms, as well as elsewhere in society.

"Blockchain Law Society was founded not only to study blockchain technology from a legal aspect, but also to promote interdisciplinary collaborations in different areas, such as economics, computer engineering, field activities," said the announcement .

The initial topics to be addressed during the foundation event include the use of blockchain in accounting and taxation, legal issues arising from the use of smart contracts, blockchain legislation research and a regulatory sandbox for startups blockchain.

The initiative comes at a time when a number of legislative moves concerning cryptocurrency, blockchain and token sales have been developed by legislators and regulators in the country.

The South Korean government is however doubling its commitment to support the development of blockchain for various applications with financial and technological resources

Image of the Seoul District Court through Shutterstock


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