Decision about closing cryptocurrency exchanges did not accept – Presidential Administration of South Korea

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The Presidential administration of South Korea published a report on the alleged ban on exchange trade promoted by the Ministry of Justice after receiving more than 1,000 requests demanding not to take this decision.

According to the press secretary of President Yun Yang-chan, the proposal of the Ministry of Justice on the total ban of exchange trade is only one of the options under consideration, and not the final decision.

“The proposal of the Minister of Justice Pak San-Guy to close the exchanges is one of the measures being prepared by the Ministry of Justice, but this is not the final decision. The final decision will be taken after the discussion with the participation of all ministries,” Yonhap News quotes an excerpt from the official statement.

A few hours after the publication of the proposal to ban exchange trade, the Ministry of Strategy and Finance of South Korea publicly stated that it does not support the position of the Ministry of Justice.

“We do not share the views of the Ministry of Justice on the prohibition of the activities of stock exchanges,” the local news agency Naver quotes the representative of the Ministry of Strategy and Finance as saying. The representative of the agency explained that he learned from the news about the impending ban.

In order for the proposal of the Ministry of Justice to obtain the status of law, the majority of the members of the National Assembly must vote for it. The entire process can take several months or even years, explains CCN.

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