January 11, 2018 / 9:05 AM / a year ago

South Korea presidential office says ban on cryptocurrency market not yet finalised

FILE PHOTO: A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017. REUTERS/Dado Ruvic/File Photo

SEOUL (Reuters) - South Korea’s presidential office on Thursday said a ban on the country’s virtual coin exchanges had not yet been finalised.

“Justice Minister Park’s comments related to shutdown of cryptocurrency exchanges is one of the measures prepared by the Ministry of Justice, but it’s not a measure that has been finalized,” a spokesman told reporters in a text message.

Earlier on Thursday, the minister, Park Sang-ki, said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.

Reporting by Cynthia Kim; Editing by Clarence Fernandez

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