Last week of confusion and friction over the regulation of cryptocurrency in South Korea continues to unfold. According to reports from Chosun,

According to local reports on Thursday, January 18, some officials of the Financial Supervision Service (FSS), who were aware of the upcoming announcements of a complete ban or significant restrictions on Commerce,

FSS leader, Choi Hyung-sik, confirmed the suspicions at a meeting on Thursday, admitting:

"We confirmed the Cryptocurrency Intelligence. "

Corruption-like activity allegations further weaken Seoul's position after its highly unpopular and contradictory ads on the regulation of crypto-currency provoked a public outcry [

A public petition calling for the cancellation of restrictions and the dismissal of some high-ranking ministers has now attracted more than 200,000 signatures ures, which means the government must respond within 30 days.

Meanwhile, the legality of any crypto-initiated trade based on classified knowledge is not clear at the moment. Ironically, the indefinite legal status of cryptocurrency means that the practice can not be considered a trade involving fully regulated instruments.

An FSS official stated:

"There is no ethical code"

Chosun also notes that public servants could be accused not of insider trading, but more generally of " the misuse of internal information ."