The South Korean Ministry of Justice wants to outlaw cryptocurrencies and exchange houses, but the government of the country as a bloc and the Ministry of Finance flatly refuse this to happen.

The rumors surrounding the cryptocurrency market in South Korea and the possible ban on exchange houses in the country is growing, but for now, they are rumors and seem unfounded. According to the executive office of the president of South Korea, which has had to release a special statement regarding the law on the closure of cryptocurrency trade that is in draft at the Ministry of Justice. They wanted to make it clear that this is only a draft, that there is nothing firm at this time.

The country's Justice Ministry wants to put an end to the cryptocurrency market, but, based on the comments of the Cheong Wa Dae (Presidential Blue House), the executive office and the official residence of the president, they have issued several different comments to this proposal, which is based on more than a thousand public requests for the closure of cryptocurrency exchange houses. The press secretary of the South Korean president, Yoon Yang-chan, has highlighted that the idea of ​​outlawing cryptocurrencies by the Ministry of Justice, are only one proposal of several that are being studied, which are not final proposals.

According to Yonhap News Agency , the following has been officially stated: 'Justice Minister Park Sang-ki's remarks regarding the closure of cryptocurrency exchanges are among the measures prepared by the Justice Ministry, but this is not a final decision and will be finalized through discussion and a coordination process with each government ministry.'

Park Sang-ki, who is the Korean Minister of Justice, has said that a regulation is being prepared to "basically prohibit any transaction in a virtual currency", through currency exchanges. He has expressed significant concerns about their adoption and highlights the 'madness', among the general public for cryptocurrencies.

During the month of December, Sang-ki, already launched an attempt to block the Bitcoin trade in the country, which met with the frontal opposition of the entire government and more particularly the Ministry of Finance, which does not consider any of these features. What is being worked on is to improve measures to avoid money laundering and opacity, since it seeks to have a registry of users, so that they pay the due taxes, something that is logical and normal. It seems very unlikely that one of the countries that has the most adopted cryptocurrencies, overnight, will close everything and make it illegal.