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January 15, 2018, 07:08:04 PM |
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15 January, during a press conference by the press Secretary of administration of the President of South Korea Jong Ki Joon confirmed that the authorities are not going to ban the cryptocurrency trading in the near future.
In an official statement, Jong said that the government has formed a specialized working group, which task will be the processing of the proposal of the Ministry of justice in favour of a complete ban of cryptocurrency trading, and the establishment of regulatory requirements, which will regulate relations on the market of digital assets.
The CCN portal quotes the words of Jong:
"First, the South Korean government will continue to struggle with the accounts used for anonymous trading with cryptocurrencies, and will pursue persons engaged in market manipulation, money laundering and fraud, coordinated efforts with law enforcement agencies and financial regulators.
Second, the proposal to ban cryptocurrency trading was put forward by the Ministry of justice on 28 December with the aim of establishing control speculation taking place on the cryptocurrency market. This offer is negotiable and will be amended by the working group, composed of the Ministry of strategy and Finance, the Central Bank, the Commission for fair trade and others.
Thirdly, the answer to excessive speculation and fraudulent activity will be serious consequences. However, the government will support and even Fund the development of blockchain technology".
Major domestic trading platforms, including Bithumb and Korbit, reacted positively to the new proposals of the government. The representative Bithumb in a conversation with Yonhap News noted that recent legislative initiatives will make the cryptocurrency market more transparent, honest and stable.
In this regard, the question of the truth or another deception?
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