The South Korean government will not impose a ban on cryptocurrency trading after all, contrary to the claims of Park Sang-ki, the head of the Justice Ministry.
In an official announcement, South Korean government reaffirms there will be NO TRADING BAN for #cryptocurrency market in the short term and NOTHING IS FINALIZED.
A petition to fire the head of the Ministry of Justice over the #cryptocurrency trading fiasco filed. pic.twitter.com/tb5tDvIV2K
— Joseph Young (@iamjosephyoung) January 11, 2018
Earlier on January 11, Justice Minister Park stated that the Justice Ministry is drafting a bill that would effectively ban cryptocurrency trading for both foreigners and citizens. In a press conference, Justice Minister Park emphasized that the ministry plans to control speculation in the cryptocurrency market by outright banning cryptocurrency trading.
Immediately after the statement of Justice Minister park was released, the Ministry of Strategy and Finance noted that it was only made aware of his statement through media reports and that it does not reflect the viewpoint of the government. The Ministry of Strategy and Finance went on to say that the agency does not support and agree with the premature statement Justice Minister Park.