S. Korea #Crypto ban Backfires | #Mnuchin forms Crypto Group | Japan launches DMM & Pop group
Over 100K signatures have been acquired to stop ban of cryptocurrencies in South Korea. The Korean people have spoken, and they want their crypto. They also want the resignation of the head of the Ministry of Justice Park Sang-ki for market manipulation.
Japanese Entertainment Company, Cinderella Academy, announces new Crypto pop group to educate people on cryptocurrency. We also have e-commerce company, DMM, launching their cryptocurrency exchange.
Steve Mnuchin announces the formation of crypto working group and that the Fed will not be creating a cryptocurrency of their own.
Nic post
South Korea was never planning a blanket crypto ban or a plan to shut down all crypto exchanges nationwide... It is, and always was about forcing South Korean crypto exchanges to comply with AND enforce stricter Know Your Customer (KYC) rules in an effort to eliminate (or at least greatly reduce) anonymous purchases/trades in the crypto space (a crackdown which was required due to their loose exchange rules and anonymous banking practices which are commonplace in the region). Basically it is less to do with a crypto/exchange ban and more to do with taxes, but apparently people like taking stuff out of context, and love to FUD FUD FUD!