South Korea has been trying to rein in speculative cryptocurrency trading in recent months, as interest in the market has exploded.
South Korea will make a decision on a proposed ban on cryptocurrency exchanges after “sufficient consultation and coordination of opinions,” the government said Monday.
Last week, South Korean Justice Minister Park Sang-ki said the government was preparing a bill to ban trading via cryptocurrency exchanges. Two of the country’s largest crypto exchanges, Coinone and Bithumb, were also raided on the day Park’s comments were made.
“The proposed shutdown of exchanges that the justice minister recently mentioned is one of the measures suggested by the justice ministry to curb speculation. A government-wide decision will be made in the future after sufficient consultation and coordination of opinions,” the office said in a statement, according to South Korean news agency Yonhap.
