Baku. 12 December. REPORT.AZ/ South Korea is considering banning all kinds of cryptocurrency transactions in the country.
Report informs citing the Koreatimes.co.kr, the top financial regulator stated it as a way to cool down the worldwide craze for digital currencies
"I don't see bitcoin transactions as financial deals," Financial Services Commission (FSC) Chairman Choi Jong-ku said in a luncheon meeting with reporters. "They are not institutionalized transactions. So the authorities never allow futures trading of such currencies."
He said the FSC is mapping out measures to restrict the transactions to some extent, including an all-out ban, adding that the restriction is aimed at minimizing side effects of Bitcoin transactions and reducing speculative investment.
Notably, South Korea is home to one of the world's largest bitcoin exchanges, with about 1 million people estimated to have the best-known digital currency.