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South Korea Cryptocurrency Crackdown: Crypto Exchange Ban Not Finalized

Investing, News, Regulation | January 12, 2018 By: David Pimentel

South Korea’s presidential office said that the proposed ban on cryptocurrency trading is not “finalized.”

The statement came after Park Sang-ki, South Korea’s justice minister, revealed plans to ban all cryptocurrency trading through exchanges. He expressed “grave concerns” over the heightened adoption and craze among the general public for cryptocurrencies.

South Korea Cryptocurrency Crackdown: All Crypto Trading May Be Banned

The South Korean government is reportedly preparing a bill to ban all cryptocurrency trading in the country.

The move was revealed by Park Sang-ki, South Korea’s justice minister, at a press conference. He claimed that there are great concerns regarding cryptocurrencies and the justice ministry is preparing a bill to ban cryptocurrency trading through exchanges.