South Korea - Authorities deny rumors of a trade ban for crypto exchanges

The South Korean authorities are officially denying the recent rumors that they were supposed to completely ban the trade of cryptocurrencies. The case began to be loud at the end of December last year, when the growing popularity of bitcoin attracted the attention of the local government. He announced that he would like to take a closer look at the work of local cryptocurrency exchanges, not excluding the introduction of additional regulations regarding their operation.

Oil to the fire was added by the recent media publications quoting the alleged statement of one of the high government officials, according to which the government would consider introducing a total trade ban for crypto exchanges.

The entire case has now been addressed by the chairman of the Korean Financial Services Commission, Choi Jong-Ku, explaining that ministers are currently discussing extending the regulations governing the operation of local exchanges, but there is no question of a trade ban at the present moment. have a solid "legal basis".