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.
Hit me with a source fam because this doesn't sound plausible without some kind of reputable source to back it up. SK is one of the large components in the Asian cryptocurrency market, it would be a surprise if they made an effort to ban cryptos completely with their country being at the forefront of the emerging markets. It might have something to do with people pulling their money out of the SK currency due to fears about things with North Korea, but I won't make any assumptions because I don't know SK politics and their citizenry's opinions.
The market seems to reflect some bad news recently though, so maybe you're right.