Some South Korean Government Official Are Under Investigation After Being Caught Insider Trading
According to South Korean news, some Fiinancial Supervisory Service (FSS) staffs are currently under investigation for buying bitcoin and selling it right before the false claim of the justice minister about crypto-trading ban.
FSS Governor Choi Heung-Sik confirmed that there is intelligence that some public officials have done such act and lawmakers immediately called for investigation and punishment for them.
The South Korean Public Service Ethics is strictly restricting public officials to do stocks trading to prevent misuse of internal information.
Although cryptocurrencies in SK may not be considered as a financial asset or currency yet, the misuse of internal information could still lead to punishment.
South Korean Fair Trade Commission Chairman Kim Sang-Jo, "The Government Has No Proper Authority to Shut down Cryptocurrency Exchanges"
In an interview by CBS Radio, Kim Sang-Jo, Chairman of the Fair Trade Commission said that the government has no proper authority to close down cryptocurrency exchanges which makes it realistically impossible.
Kim said that whether there is excessive speculation in cryptocurrency trading or not, the risk is on the investor's responsibility.
Therefore, the government should not outright ban cryptocurrency trading because it is risky. The decision is solely on the investor, he added.
Headlines for the world of Cryptocurrencies - January 17, 2018The National Petition Against South Korean Government Cryptocurrency Regulation Has Reached Over 215k Signatures / Bitmain Considering Another Bitcoin Mining Expansion In Canada |
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Headlines for the world of Cryptocurrencies - January 16, 2018South Korean Government Confirms No Trading Ban In The Near Future / South Korean Banks Reversed Decision To Stop Servicing Cryptocurrency Investors |
Headlines for the world of Cryptocurrencies - January 15, 201820 Percent Of Bitcoin's Total Supply Is Left To Be Mined / Bitcoin Is Becoming More Popular As More And More Are Accepting It As Payment |
