S. Korea Responds To Public Petition: No Crypto Trading Ban, But Gov’t ‘Still Divided’

South Korea’s government said its regulatory course on cryptocurrencies is aiming to “prevent any illegal acts or uncertainties” in fresh comments Wednesday, Feb. 14.

Quoted by various media outlets, the country’s minister of the office for government policy coordination Hong Nam-ki released a statement in response to last month’s public petitionagainst harsh regulation or an outright ban on cryptocurrency trading.

The petition, posted on the site of the South Korean presidential office, has to date gathered over 200,000 signatures. The government is obliged to respond to a petition that gathers over 200,000 within 30 days.

The government’s basic rule is to prevent any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing blockchain technology,” Hong announced, continuing:

“But, the government is still divided with many opinions ranging from an outright ban on cryptocurrency trading to bringing the institutions that handle the currency into the system.”

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