South Korean petition against cryptocurrency regulations was signed by 200,000 people

On Tuesday, January 16, the petition regarding the regulation of virtual currencies reached the number of signatures required to enforce a response from the government

An internet petition calling on the government to reconsider its position on the regulation of cryptocurrencies found itself on the website of the presidential office in South Korea on December 28.

On January 16, the petition received over 212,700 signatures. According to the presidential office's website, the minimum required for a government response is 200,000, so officials are expected to respond to the petition's requests within the next 30 days.

The petition asks the government to relinquish the proposed trade rules that will ruin the 'happy dream' that has enabled digital currencies.

In general, the position of the South Korean government over the regulation of cryptocurrencies was contradictory over the past month, particularly misleading due to the informal proposal of the Minister of Justice regarding the ban on cryptocurrency, which has been widely communicated in the mainstream media.