sponsored
The cryptocurrency industry has faced significant regulatory challenges in recent years, with the SEC and CFTC taking action against various projects, including sending Wells notices to Coinbase. Amidst this regulatory landscape, the concept of sovereignty and international law has become increasingly important for crypto investors and innovators. The idea is that a new state can create a safe-space for said innovations to flourish – introducing Joseon, the world’s first cyber nation-state with diplomatic relations with a recognized UN member nation.
Understanding the Impact of Sovereignty on Crypto
Sovereignty refers to a country’s ability to govern itself independently. This means that governments can regulate and control activities within their borders, including those of cryptocurrency companies. While some countries offer favorable regulatory frameworks that allow crypto companies to exist in some capacity, others impose stricter regulations or outright bans that limit operations and hinder innovation. In international law, only sovereignty is bestowed the absolute power of existence.
Creating a Nation
Establishing a sovereign nation typically involves a referendum at its best or a tumultuous war at its worst. For Joseon, however, the process is much simpler: it’s already a nation-state.
What is Joseon?
Our new nation, Joseon, is the successor to the original Joseon Empire which was founded in 1392 and was the longest-running dynastic kingdom of Korea. Contrary to popular belief, Joseon never “ceased” to exist when Japan annexed the empire in 1910. The “Annexation” treaty was signed under the duress of armed threat and lacked signatory endorsement from the King of Joseon. International law dictates that a state cannot be extinguished due to belligerent occupation. Furthermore, a 1965 treaty between the Republic of Korea and Japan declared the 1910 treaty invalid and legally null and void. In 2023, Joseon reaffirmed its continued existence through a treaty with Antigua.
A Jurisdiction that Encourages Innovation
As a recognized nation-state, Joseon has established its own regulatory framework in its jurisdiction, allowing its “citizens” (called Denizens) to establish their own corporations. Instead of imposing restrictions on innovation and technology, Joseon aims to provide an environment that encourages creativity and development. This implies that the limits of innovation and technology will be…
Click Here to Read the Full Original Article at Bitcoin News…
