Despite South Korea's intention to withhold currency trades in the country, the move seems to have plenty of time to put into practice. In recent days, the Ministry of Justice announced a plan to prevent exchange in encrypted currency, and noted that the plan is just a proposal from the ministry and need to many discussions with other ministries.
But South Korean Finance Minister Kim Dong-yun has warned that the ban on encrypted currency exchange needs further consultation. He added that the plan may take months or even years before it becomes a law punishable by the violators.
The finance minister's comments came after tens of thousands of people submitted an online petition and demanded that the presidential office stop the crackdown on the circulation of encrypted currency.
