Recently, representatives of the Green House - the official presidential office of the president of South Korea has just announced that there will be no more bans in the country for Bitcoin or codec transactions. Thus, the law of the former Justice Minister on the ban on Bitcoin transactions was rejected.
That's not long ago, the bill prohibiting the Bitcoin deal by the Ministry of Justice has faced a lot of conflicting opinions, causing the cryptocurrency market to falter because South Korea is one of the "big guys" in investing in electronic money.
According to information from the government, the Ministry of Justice unilaterally makes this plan without the relevant departments of the government. The Finance Ministry immediately declared not to support the bill.
The government has asked the Ministry of Justice to publicly apologize to the people, and no disciplinary action or reprimand will ever apply.
Investors are now able to breathe a sigh of relief and continue to invest in this potential market, but from the moves of the Korean government, it is hard to get a long-term ban.