Yesterday, plans for new regulations relating to bitcoin and the cryptocurrency market, put in place by the South Korean government’s have been LEAKED. The draft list, which was leaked online, had been created in a hurry at an emergency meeting held by the government this week. The picture below shows the original list.

As translated by market researchers in association with CNN, the list reads as follows:

1- Prevent unaccredited investors from dealing with losses through highly volatile cryptocurrencies.

2- Prevent strictly regulated cryptocurrency exchanges from operating as speculative platforms for unaccredited investors.

3- Request banks and exchanges to ensure underaged investors and foreigners cannot open trading accounts on cryptocurrency exchanges.

4- Temporarily suspend institutional investors and retail investors from investing in cryptocurrencies.

On a positive note, the regulations listed are clearly focused on volatility and investor protection. Contrary to many predictions earlier this week, South Korea is not banning or cracking down on cryptocurrency trading, but in fact the opposite. The government has outlined this information upon the accidental release of these draft regulations.

The South Korean government has previously been hesitant on the topic of imposing cryptocurrency-related regulatory frameworks over the past 12 months, reports CNN, due to the belief that strict regulations would further legitimise, stabilise, and validate the local cryptocurrency market.