While South Korea's Finance Minister Kim Dong-yeon spoke positively about the potential for Blockchain, saying that "Blockchain technology can disrupt and revolutionize the world," According to the South Korean-based Yonhap News Agency.

During a meeting with Zhou Xiaochuan, governor of the People's Bank of China, Yeon also

According to another Korean news site Chosun, Yeon reiterated that the South Korean Finance Ministry has no plans to ban or restrict cryptocurrencies within the country, adding:

"Blockchain technology is an important breakthrough to fuel the fourth industrial revolution and as such, the ministry will take a lead in regulating the crypto currency market. For the purposes of the use of cryptocurrencies, the ministry will impose strict regulations. "

While some have made the case that cryptocurrencies are not necessary for the reation of the benefits of blockchain technology, Yeon sees the two as inextricably linked:

"For open-source blockchain networks, cryptocurrencies are necessary as incentives for individuals to participate in the network."

Yeon's positive comments on Blockchain and cryptocurrencies The following is a review of cryptography and exchanges in South Korea, with the country's ban on anonymous trading of cryptocurrencies and a false scare of an overall crypto ban the markets dip.