A number of media reported that the South Korean authorities intend to ban the activities of cryptocurreny exchanges. The source of the false information was a local publication that referred to a government official close to the decision-making center.
This news appeared against the background of inspections in the offices of cryptocurrency exchanges and the general negative position of the South Korean government regarding the cryptocurrency industry. The country's Prime Minister even declared that digital currencies "corrupt youth". He also ordered the formation of a working group to study crypto currency as a tool for creating financial pyramids and speculative schemes.
In addition, South Korea has become one of the few countries that have decided to completely ban the ICO, which already speaks in favor of the determination of the authorities. Financial companies are also prohibited from interacting and trading crypto-currencies.
However, the head of the Financial Services Commission (FSC) Che Yonku said that to ban cryptocurrency exchanges serious legal grounds are needed.
The authorities intend to regulate the activity of cryptocurrency exchanges within the framework of improved AML-legislation, but not to prohibit them.