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.
you will see more and more of this over the next few months as bitcoin is no longer flying under the radar. It seems everyone is talking about about crypto currency and how much "money" is being traded daily using it. Im not optimistic about how financial institutions and governments are going to tread bitcoin in the future.
I agree. The interest in Crypto-Currency is increasing day by day and that is making countries commands become alert about it and in the worse scenarios they want to ban it. I think it will become even worse and if Bitcoin enthusiasts don't do anything about it the governments will do everything they want without resistance from the other side. On my country some politicians want 1-6 months in the jail for who uses Bitcoin.