People in South Korea Oppose Cryptocurrency Trading Ban
It appears that people in South Korea are definitely in favor of the cryptocurrency market. In fact, people seem to be quite scared that a cryptocurrency trading ban might follow, so they decided to take action. It has been revealed that a total of 100,000 people in South Korea have decided to sign a petition asking the Ministry of Justice to not impose such a ban.
South Koreans ask the government to disapprove of ban
Reportedly South Koreans want the government to prevent the Ministry of Justice from pursuing a potential ban on cryptocurrencies. To achieve this purpose, people in this country have decided to submit more than 50 petitions to the Blue House, which is the executive office of the country's President.
An interesting thing is that the opponents of the ban also have support from the Ministry of Strategy and Finance, which said that it is not in favor of the Ministry of Justice's decision to ban cryptocurrency trading. After the Ministry of Strategy and Finance made public its stance, the Blue House decided to give some good news to the supporters of no ban on cryptocurrency trading.
Blue House: There will be no ban for the moment
The government stated that there will be no ban on cryptocurrency trading, at least not in the near future. So, what the government shared is that in the short-term a ban will not be imposed.
While most petitions focused on removing the potential ban on cryptocurrency investments, there were also some petitions which requested the government to remove Park Sang-ki from office. Park is of course the head of the Ministry of Justice.
Some accused Park of trying to manipulate the market by talking about a ban that was not discussed or agreed on with other authorities, such as the Ministry of Strategy and Finance. In fact, the Ministry of Finance revealed that it found out about the proposed ban from media reports.
Furthermore, media reported that the Blue House's statement said that the claims made by Park were his personal thoughts and not an official position of the Ministry of Justice.