Responding to a parliament member at the national policy committee meeting today, Choi Jong-ku, head of South Korea’s Financial Services Commission, explained how such regulation may play out, reportedly saying:
“(The government) is considering both shutting down all local virtual currency exchanges or just the ones who have been violating the law.”
The comment indicates the government is moving to clear the recent confusion around cryptocurrency regulation in South Korea, mainly created by conflicting comments issued by different government bodies.
As reported before, on Jan. 11, the South Korean Ministry of Justice reportedly confirmed a plan to shut down all cryptocurrency exchanges. Yet soon the South Korea’s Presidential Office commented that such a policy has not been finalized. As reported by CoinDesk previously, the unclear situation has also brought backlash from local residents and politicians.
According to the report, Hong Nam-ki, minister of the office for government policy co-ordination, said while government officials still hold different opinions over the issue, the meeting today expects to reach a decision on a cryptocurrency exchange regulation…