Seoul National University (SNU) in South Korea has decided to halt cryptocurrency donations until digital asset stability is ensured and appropriate regulatory frameworks are in place. This decision comes after a controversy involving Wemade, a game company, which pledged KRW 1 billion in WEMIX tokens to a startup fund but later liquidated the tokens without prior disclosure, leading to a significant drop in their value. SNU's decision highlights concerns about the volatility of digital assets and the need for clear regulations in cryptocurrency philanthropy. SNU aims to develop a secure and regulated framework for accepting cryptocurrency donations in collaboration with financial regulators, cryptocurrency experts, and philanthropic organizations. The university's approach sets a precedent for other institutions considering similar funding strategies, emphasizing the importance of stability, transparency, regulatory compliance, and risk management in crypto donations.
- Content Editor ( bitcoinworld.co.in )
- 2024-10-14
Seoul National University Halts Crypto Donations Until Stability and Regulations Are Assured