South Korea’s justice minister said last week that the government was preparing a bill to ban cryptocurrency trading on exchanges, sending prices of bitcoin, the world’s most traded virtual currency, to fall more than 16% in two hours on South Korean exchanges.

This has created a huge public response against the government from hindering the growth of cryptocurrency, with over 100,000 and growing.

The government petition website is recieving so many requests to stop the government interference with the growth of the crypto market it become overloaded!

There are also some petitions (30,000 and growing) asking for the removal of South Korean Chief Justice from office for just suggesting the idea.

Korean daily newspaper The Hankyoreh states that leaders of several opposition parties are moving to criticize what they deem a unilateral crackdown without any discussion or debate.

Good to see the people fighting back!


Here are some recent web links:

WSJ - South Korean Crackdown

Coindesk - South Korean People push back against Justice Minister

CNBC - no change tell more talks

Reuters - South Korea says no ban, just talks on regulation

CCN - Crypto Ban Fallout