January 31, 2018 / 7:00 AM / 9 months ago

South Korea doesn't intend to shut down virtual coin trading: finance minister

SEOUL (Reuters) - South Korea’s finance minister said on Thursday said the government has no plans to shut down cryptocurrency trading, affirming market speculation that authorities won’t go as far as China, which has blocked virtual coin platforms.

FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration, in Paris, France, December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

Questioned by a lawmaker on the government’s plans to regulate the market, Kim Dong-yeon said “there is no intention to ban or suppress cryptocurrency (market).”

“Regulating exchanges is (the government)’s immediate task,” Kim said.

Reporting by Cynthia Kim, Shin-hyung Lee; Editing by Kim Coghill

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