OFFICIAL: No Cryptocurrency Trade Ban in South Korea, Government Says

news source from.
https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says

The Blue House, the executive office and the official residence of the President of South Korea, has announced that there will be no ban on cryptococcal trade in the short term.

source from twitter
https://twitter.com/iamjosephyoung/status/951428854085689344/photo/1

No restrictions, all FUD

The South Korean government's official announcement came after a massive counterattack and criticism of the Justice Ministry, which independently announced its plan to ban cryptocurrency trade. The ministry does this without the consent of the Ministry of Strategy and Justice and other government agencies involved in the South Korean crypto-korean task force.

According to Blue House, more than 60,000 people voted in a petition to dismiss Justice Minister Park Sang-ki, who issued a premature statement earlier this morning, on January 11, that the government will implement a policy to be shut down. trading of cryptocurrency

Almost immediately after Minister Park issued his statement, the Ministry of Strategy and Finance stressed that it did not endorse or approve the Justice Minister's decision to ban the cryptocurrency trade. It was also added that the Ministry of Strategy and Finance only knew about the statement of the Minister of National Parks through media reports, and the decision to ban cryptococcal trade was not agreed upon by the task force.

In 2016, former South Korean President Park Geun-hye, who is currently jailed for money laundering and corruption allegations, was fired by people in the country who vehemently voiced their opposition to the former president. Millions of South Koreans went out into the streets and circled the Blue House, until the court decided to finally process the impeachment.

Since then, the voice of South Koreans has strengthened and the new government, led by current President Moon Jae-in, vows to listen to the people.

Taking into account past events and government announcements that a cryptococcal trade ban will not be implemented in the short term, it is likely the South Korean government will move to regulate and encourage local crypto market.

Ban does not seem to be in the long term

Earlier, a spokesman for the South Korean flare-up crypto group declared that the country would follow a regulatory roadmap set by key areas such as Japan and the US. Therefore, it is highly unlikely that even in the long run, a ban on trading of crypto-cardiac will be enforced. The spokesman said:

"The South Korean government has no choice but to follow the regulatory framework and trends set by other prominent governments.Although there is a negative reputation attached to crypto in Iraq, the government's attitude is to allow what should be allowed, in the interests of the South Korean market