South Korean Prime Minister Lee Nak-YeonAassured, Closing Down Cryptocurrency Exchanges is not a Serious Consideration.

    2018/02/08 19:42 Angel lv Created with Sketch.
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Cointime (February 08) Since South Korea implemented the regulation of cryptocurrency trading, the market has been somewhat chaotic. But today, South Korean Prime Minister Lee Nak-Yeon assure cryptocurrencies users, the closing down cryptocurrency exchanges is not a serious consideration. 

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Earlier, South Korea’s opposition party held a hearing on the government's cryptocurrency policy.

Lee responded, 

“The closing of [cryptocurrency] exchanges is not a serious consideration now. It is one of the many possibilities.”

He explained, 

“[closing down crypto exchanges] will take a lot of discussion, debate, and time. I am thinking about how it will affect the market.”

January 11th, 2018, the minister of justice, Park Sang-Ki announced the closure of cryptocurrency exchanges. He said,

“We are preparing a bill to ban virtual currency exchanges[...] We also aim to close exchanges.”

Although other South Korean regulators clarify this statement is entirely the personal opinion of the Minister of Justice and Park apologized for his actions, this statement already aroused concerns and lead to the plunging cryptocurrency value. 

Kim Dong-Yeon, the Finance Minister, said in a radio interview, 

“In the near future, a consistent and comprehensive position of the government will emerge in an appropriate and desirable form.”


    Adapted from: CoinTime Executive editor: Angel
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