By Azania Post Reporter
MORE than 200,000 people including house wives and students have signed petition to protect against South Korea’s government decision regarding cryptocurrency trade.
Reuters reported that the petition was made after the justice minister said last month that the government may shut down cryptocurrency exchanges.
It demanded that the government never impose unreasonable regulation on virtual currency trading.
Reuters reported on Wednesday that South Korea will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House.
“The government’s basic rule is to put off any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing block chain technology,” Hong Nam-ki, minister of the office for government policy co-ordination said in an announcement.
The government has to produce an official response within a month for a petition that gathers more than 200,000 signatures.
South Korea, which has become a cryptocurrency trading hub after a market frenzy that attracted even housewives and students, has already imposed some regulations on cryptocurrency trading.
It banned the use of anonymous bank accounts for virtual coin trading as of January 30, but said it does not intend to go as far as shutting down domestic exchanges.