SEUM’s Blockchain TF and Its First Seminar on Blockchain Regulation

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Last month, Korea’s leading startup counselling boutique law firm SEUM launched the Blockchain and Digital Currency Task Force (the “TF”). With Managing Partner Hoseok Jung on the lead, the TF consists of attorneys specializing in IT and finance. The firm’s foreign attorneys are also ready to join the TF, reinforcing the capacity to study relevant overseas cases.

SEUM recognizes that the blockchain industry is not just fast-growing, but also becoming diverse in forms as seen from applications to digital currency, ICO (Initial Coin Offering), and foreign exchanges. The TF was created in order to respond to such changes and provide a comprehensive legal service to the industry. Above all, the TF is to host monthly seminars and various meetups with relevant organizations to distinguish its pathway from other law firms in expanding its business area.

Moreover, Mr. Jung is confident about the success of the TF, noting that the TF has already visited major digital currency exchanges in China and discussed legal issues on digital currency and blockchain technology, a hacking-prevention technology. The law firm is also looking forward to cooperating with law firms from different parts of the world like Europe for consistent research on blockchain.

Later last month, SEUM co-hosted its first “Blockchain/Digital Currency Legal System Seminar” with Hashed Lounge, a Meetup group focused on blockchain. The booming event welcomed more than 100 participants from related areas. The seminar set the stage for discussions regarding the necessity of a regulatory regime on digital currency and blockchain, noting that Europe and other countries have already started their studies on regulating blockchain.

In the seminar, Mr. Jung delivered a valuable speech. He covered topics that spanned  from introducing the concept of digital currency and the domestic blockchain environment to explaining in detail the legal and tax-related issues as well as how it is being regulated. The vice-president of Hashed Lounge Seojoon Kim later joined him to discuss blockchain industry and regulation, where they shared their insights on the future for the field. They further expressed their hopes that the seminar will provide a stage for the industry to concern about not only the regulatory regime, but also the pathway to the future.

Inspired by Platum’s 법무법인 세움, 블록체인 법률·제도 세미나 개최; and 법무법인 세움, 블록체인 및 가상화폐 TF 출범…이달 첫 세미나 개최.

Image source: Platum

Max is an LL.M. Candidate at Georgetown University Law Center. He is interested in the social impacts made by startup companies, and longs to contribute to the betterment of emerging companies. Max can be reached at hankuhm.lee@techforkorea.com.

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