The government of the country does not intend to impede the development of the crypto industry
The Ministry of Finance of South Korea said that the government is not going to ban digital currencies and prevent the development of the crypto industry in the country.
This was said in the speech of Kim Don Yon, the Minister of Finance of South Korea. However, the official stressed that the regulation of this area by the state at the moment is a priority for the authorities.
Thus, South Korea has not followed the example of the Chinese authorities, which intend to completely block local and foreign platforms for trading, as well as other similar to the crypto-exchange platforms offering digital exchange services.
Recall that earlier, South Korean authorities have blocked some crypto-exchange exchanges, equating platforms to “adult sites” and online casinos.
In addition, the government repeatedly stated about a possible ban on trade in crypto-currencies in the territory of the state, which was met with obvious discontent from the crypto-currency community and the political opposition.
It is worth noting that since January 30 anonymous crypto trading in the country turned out to be “out of the law”, and all owners of bank digital accounts were required to undergo KYC procedures.