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Over 220,000 Petitioners Want South Korea to Keep Hands Off Crypto Market

Written by:
Guest
Published on:
Jan/20/2018

More than 220,000 signatures have appeared on a petition asking the South Korean government to remain "hands off" the cryptocurrency market.

A suggested crackdown in that nation sent nearly all the cryptocurrency prices plunging this past week.  Bitcoin's value was halved off its record high achieved last month, though the price began rebounding on Saturday. 

From CoinGeek.com:

The confusion and friction over a reported proposal to shut down cryptocurrency exchanges in South Korea continued this week: On Monday, the Office for Government Policy Coordination downplayed Justice Minister Park Sang-ki’s remarks last week that South Korean authorities are working on a proposal to shutter domestic exchanges, saying it will make a decision only after “sufficient consultation and coordination of opinions.”

Finance Minister Kim Dong-yeon sang a different tune on Tuesday, when he disclosed that the administration is indeed mulling a clampdown on cryptocurrency exchanges. That statement was confirmed by Financial Services Commission Chief Choi Jong-ku on Thursday during a national policy meeting, saying that Seoul is “considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law.”

- Gilbert Horowitz, Gambling911.com

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