April 20, 2024

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[THE INVESTOR] The government said on Jan. 15 it will make a decision on the proposed shutdown of all cryptocurrency exchanges after “sufficient consultation and coordination of opinions.”

The Office for Government Policy Coordination made the announcement, downplaying the justice minister’s remark last week that the government is working on legislation to close all virtual currency exchanges to fight speculation.

“The proposed shutdown of exchanges that the justice minister recently mentioned is one of the measures suggested by the justice ministry to curb speculation. A government decision will be made in the future after sufficient consultation and coordination of opinions,” the office said in a statement.

The government has been struggling to bring cryptocurrency speculation under control with a series of measures, including a regulation requiring real-name transactions in virtual currency trading, but the overheated market has shown few signs of cooling down.

By Alex Lee and newswires (alexlee@heraldcorp.com)