After all the strain created te latest years by South Korean government deeds against exchanges, wij are now about to witness the most anti-climactic ending possible.
The South Korean government proclaimed today it would back down on the proposed shutdown of cryptocurrency exchanges until doing its gepast due diligence.
&ldquo,The proposed shutdown of exchanges that the justice minister recently mentioned is one of the measures suggested by the justice ministry to curb speculation. A government-wide decision will be made ter the future after sufficient consultation and coordination of opinions,&rdquo, the Office for Government Policy Coordination said te a statement released to Yonhap News Agency.
The speculative craze prompted South Korean government officials to raid Coinone and Bithumb on suspicion of tax evasion.
The statement that sparked confusion and anger across the country and sent ripples through the Película del Oeste media came courtesy of Justice Minister Park Sang-ki.
&ldquo,There are good concerns regarding resultón currencies, and the justice ministry is basically preparing a bill to kerkban cryptocurrency trading through exchanges,&rdquo, he said at a press conference four days ago.
Three days prior to the announcement by the minister, CoinMarketCap determined to eliminate South Korean exchanges from its listings. Spil a result, the entire cryptocurrency market capitalization listed on its webpagina dropped by around $100 billion.
The removal of thesis listings had little to do with the legislative turmoil ter the country. Rather, it wasgoed the liquidity issues South Korean exchanges had that prompted CoinMarketCap to ax them.
Albeit the Office for Government Policy Coordination may have flipped back the justice minister&rsquo,s statement, this doesn&rsquo,t mean that cryptocurrency exchanges te the country are ter the clear.
Their shutdown is still te the cards albeit it is embarking to look less likely with every passing day.