Another source, CoinJournal translates the government statement differently:
the South Korean government has never released such a statement. The official document released by the South Korean government translated by CoinJournal read:
- The government will continue to evaluate the cryptocurrency trading trend and impose practical regulations in a timely manner.
- The Ministry of Justice has drafted a special cryptocurrency law and is considering the possibility of closing down exchanges involved in suspicious or illicit activities such as money laundering.
- The government will strictly handle speculative movements in the local cryptocurrency market but will facilitate the growth of cryptocurrency and blockchain technologies.
The key difference being that only exchanges who are involved in illegal activities may be shut down. Which is true?
RE: Newsflash: Bitcoin Price Falls Near $12,600 Amid South Korea Trading Ban Fears