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Korea

Exchanges’ regulations instead of a ban says South Koreas finance minister

January 31, 2018 by Ashley MAO

South Korea’s finance minister Kim Dong-yeon said that the government has no intention of banning cryptocurrencies and is looking to regulate the exchanges instead.

The minister made his comment in response to an inquiry from an official on the government’s plans for regulation cryptocurrency market and can be seen in a wider context of the government efforts to counteract the confusion in regards to the country’s cryptocurrency regulation. Previous government officials’ statements announcing an imminent ban on cryptocurrencies in South Korea was met with a public backlash and resulted in a sharp drop in the country’s cryptocurrency market cap.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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