For days in South Korea, which has led to controversy and crippling currency market turmoil, does Crypto Money prohibit or ban traders? Jeong Ki-joon, the executive spokesman of South Korean President Moon Jae-in, stressed that there will be no cryptocracy trade ban in the near future at a public press conference.
In an official statement, spokesman Jeong noted that the regulation of government-created crypto-money would improve and change the original offer of the Ministry of Justice to ban crypto-currency trading and bring practical arrangements to encourage crypto money market.
''First, the South Korean government will follow movements in anonymous cryptographic trading accounts and will penalize market manipulation, money laundering and fraudulent transactions through joint investigations involving security forces and financial authorities.
Second, the proposed crypto-currency trade ban by Justice Minister Park Sang-ki was proposed by the Justice Ministry on December 28 to bring speculation under control in the crypto money market. The proposal will be discussed and amended through the task force attended by the Ministry of Strategy and Finance, the central bank, the Fair Trade Commission and other institutions.
Third, extreme speculation and fraud activity will have serious consequences. But the government will support and even finance technology development.''
On January 20, foreign investors are expected to enter the ban on cryptographic monetization, and by the end of this month, South Korean crypto money exchange exchanges are expected to reopen the records for new users and investors.
Several high-ranking officials, including Nam Kyung-pil, ex-congressional member and National Assembly members, criticized the South Korean government, criticizing critics and the government for their inability to understand and properly regulate the cryptographic money market.
''Bitcoin tulip balloons make South Korean people laughable. Currency is baseless reproach. Gov't should focus on encouraging the crypto market if he does not want to stay behind''
Market Optimist
The South Korean crypto money market, along with major trading platforms such as Bithumb and Korbit, are optimistic about the new approach the government has taken to regulate and develop the local market.
In an interview with Bithumb spokesman Yonhap News, he said practical regulations are being implemented and that the purchases to be made in South Korea will be in harmony with the new regulations and policies to ensure that the market remains transparent, fair and stable.
Yonhap also reported that investors in the South Korean crypto money market became more optimistic and began to invest in crypto money trading and feel safer in the trade.
Korbit's co-chair, Kim Jin-hwa, said that if a government wants to sell traders and set strict rules during a government session in December, it should first create an equal footing for crypto money businesses and investors. Kim emphasized that the government should not create a difficult ecosystem for investors by not supporting the market.
Given the unpredictable nature of the South Korean government, it seems unlikely that a great deal of government-sanctioned trade sanctions will be imposed from now on; a crypto money trading ban is always a possibility, but today we can say it clearly.
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This post has received a 0.13 % upvote from @drotto thanks to: @uzay.
well done uzay!
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