Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes an all-out ban.
We are discussing to what extent the government will regulate the trade. Including the prohibition of trade. he said at an at a luncheon meeting on Monday.
The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.
That is one part of the story, the other part clearly said South Korea finance ministry is against this idea completely, they are getting some really good tax and they don't wish to ban Bitcoins, what they have Indicated is that they will put new curbs on bitcoin's, which was bound to happen due to its popularity so that's really okay. South Korea is a huge market and I think it will not ban Bitcoins.