SEOUL, 15 Jan 2018:
South Korea today said its plans to ban virtual coin exchanges had not yet been finalised as government agencies are still in talks to decide how to regulate the market.
“The plan to ban cryptocurrency exchanges, recently mentioned by the nation’s justice minister, is one measure in talks to curb speculative investments, which the government will carry on with enough discussion for before finalising the decision,” an official at the Office for Government Policy Coordination told a news conference.
On Jan 11, justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.
The government’s tough stance triggered a selloff of the cryptocurrency on both local and offshore exchanges as South Korea is seen as a major global market for cryptocurrency.
– Reuters