In a statement published yesterday, South Korea government officials announced a set of policies intended to curb the speculative wave around crypto currencies that stormed the markets during the last few weeks, Reuters reports.
Among these measures are some limitations on the daily trading volume that an exchange can carry without approval from Korea Information Security Agency, measures against multi-level marketing companies around cryptos, crackdowns on illegal use of industrial space for mining, prohibition of exchange accounts for minors and a potential ban against ICOs. All these are at the proposal stage and they will be discussed with the private sector.
It's interesting to note that these amendments came with a support statement for blockchain and cryptos in general, which are not seen as a danger. Seems like the target is the overheating of the markets, not the markets themselves.
Volume in Korean exchanges seems to be lower today but it's hard to say if this is a direct consequence of this news.
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