Bitcoin Bounces Back – After South Korea Crypto Trading Ban Fears Wane
Jan, 12th 12:44
After a massive backlash and criticism against the Ministry of Justice, which independently announced its plans of banning cryptocurrency trading. The South Korean government’s said in the official announcement that “The Ministry did this without the consent of the Ministry of Strategy and Finance and other government agencies involved in the South Korean cryptocurrency regulation task force”.
“The action of shutting down (cryptocurrency) exchanges, announced by the justice minister yesterday, is a proposal by the justice ministry and it needs consultations among ministries,” Kim said.
Immediately after Minister Park released his statement, the Ministry of Strategy and Finance emphasized that it does not support or agree with the decision of the Ministry of Justice to ban cryptocurrency trading. It also added that the Ministry of Strategy and Finance only found out about the statement of Minister Park through media reports, and the decision to ban cryptocurrency trading was not agreed upon by the task force.
As a result today, BTC/USD has bounced back from $13205 and is trading in the positive zone on the daily charts.
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