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South Korea is not banning crypto trading, government notes huge community reaction

12 January 2018 00:00, UTC   |   495
South Korea is not banning crypto trading, government notes huge community reaction

The government of South Korea is not planning to prohibit cryptocurrency trading in the near future, as the press found out. According to the local television reports cited by Joseph Young, cryptocurrency observer, the government was shocked by a number of requests to fire the Minister of Justice and the Finance Minister due to their words being a market manipulation.

While the country has already banned ICOs, which Don Tapscott even called “losing a historic opportunity”, the digital currency market is still very big and developed in this Asian state - although there are some problems originating from the enemy state, North Korea, where the government-backed hacker groups try to remotely hack big exchanges.

The news coverage of this situation was far from ideal. “South Korea is banning cryptocurrency trading!” - alerted the public the clickbait titles yesterday. But those who wanted to get the actual information soon found out the whole reason of this hysteria was the position of the local Minister of Justice. Unconfirmed messages about the police raids on cryptocurrency exchanges still have not been confirmed — this almost certainly means fake news as well.

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