The South Korean government has confirmed that it completely refuses any plans to tightly regulate the crypto currency market through bans and plans to focus on improving trade transparency.
Today, South Korean Minister Hon-Ki Ki published on the official website of the government a report on the further development of crypto-currency and block-building technology in the country. This report was a response to the petition of citizens, which collected more than 300,000 signatures in support of the trade in crypto-currencies.
Hong Nam Ki noted that the country’s authorities closely monitor the development of the market and intend to carefully monitor the situation in order to prevent losses of investors due to fraudsters or speculators and make trade more transparent. He also noted that improvements are already visible, they became visible after the closure of several exchanges and the ban on anonymous trade.
Also, the Minister of Finance of South Korea noted the prospects of blockade technology, which can be used in all spheres of human life. In view of this, the government significantly expanded the budget for 2018 to actively introduce this technology.
It is worth noting that the market immediately reacted to the positive news and began to grow steadily.