banking

Price inflation is not inevitable. One of the most common explanations for price growth is identifying it with capitalism. The argument is that inflation is unavoidable as the economy grows. It is thought that for businesses to have an incentive to invest and wages to grow, the prices of goods and services should rise in the first place.

South Korea has embarked on a completely opposite course by recently announcing its intention to regulate digital currencies. The Financial Services Commission decided to proceed with further regulation in the light of the increasing popularity of Bitcoin in the country.