Finance Minister: Banning Digital Money Exchanges Requires Consultation

Write : 2018-01-12 11:40:55 Update : 2018-01-12 11:45:53

Finance Minister: Banning Digital Money Exchanges Requires Consultation

Finance Minister Kim Dong-yeon said Friday that the idea of banning cryptocurrency exchanges is a matter that requires discussion among related agencies.

Kim made the remark to reporters after attending a meeting of a support group for innovative growth. 

His comments came a day after Justice Minister Park Sang-ki said the government is preparing a special bill on banning transactions of cryptocurrency through exchanges amid the craze over digital money.

Kim said all government agencies share the view that appropriate regulations are needed to curb overheated cryptocurrency speculation. 

He then said the government is considering ways to rationally regulate the frenzy over digital money, adding that the possibility of taxing such currency is being mulled. 

However, the minister was quick to stress the need to view Blockchain Technology from a balanced perspective, citing that it is one of the basic technologies of the Fourth Industrial Revolution.  

Such technology has been regarded to be closely linked to the latest frenzy over digital money.

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