[Editorial] Muddled response to cryptocurrency markets undermines trust in government

[Editorial] Muddled response to cryptocurrency markets undermines trust in government

Numbers are constantly changing on a ticker board installed on a cryptocurrency exchange in the Jongno District of Seoul on Jan. 12. The value of various cryptocurrencies plunged after the Justice Department announced it was preparing a special bill to abolish the virtual currency exchange, soon returned its previous level. (by Baek So-ah, staff photographer) The South Korean government has shown some confusion in the measures it’s taking to reduce speculation in Bitcoin and other cryptocurrencies. On Jan. 11, Justice Minister Park Sang-ki said that the ministry was “drafting a special bill to ban cryptocurrency trading that would even […]