South Korea Finance Minister Kim Dong-yeon has reaffirmed that the government will not ban or otherwise " suppress " cryptocurrency in the Reuters today, Jan.

In the latest update to the country's ongoing regulatory overhaul of cryptocurrency exchange, Kim firmly distanced Seoul from previous comments about a potential outright ban, which caused public outrage

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said in a press conference that a cryptocurrency exchange was in the works. Mainstream media then published in the past, which helped push a cryptocurrency sell-off.

A public petition that has been reduced to 200,000 signatures,

Regulatory steps are now a priority for lawmakers, Kim continued, as reported on a customs crackdown on alleged " illegal " trading involving cryptocurrencies.

Having identified a trade worth almost $ 600mln, enforcement is now investigating transactions that openly flouted fresh anti-anonymous trading laws, which went into effect Tuesday, Jan. 30.

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The anonymous bank accounts were already facing its share of problems, as it was able to make the new system work better. forced to cease trading.