South Korean Petition Gets 200K Signatures Against Crypto Regulation

The citizens of South Korea met up to sign a petition against the digital currency ban and requested the dismissal of Justice and Finance Minister. Everything began when South Korean authorities talked about a restriction on cryptocurrency trades.

As of January 17, 2018, the petition on the official site of South Korea’s presidential office had effectively assembled 217,000 signatures. According to the local legislation of the nation, if inside 30 days more than 200,000 individuals bolster a petition, the administration officials have to react. Henceforth, the officials are relied upon to respond to the requests that are recorded in the petition within 30 days.

This online petition calls the government to reexamine its position on the control of digital currencies. The appeal essentially requests that the officials renounce the proposed trading regulations as it would demolish “a happy dream” that is made conceivable by the digital currency.

In any case, the appeal supports a portion of the digital currency regulations, for example, the prohibition on anonymous trading accounts. Bithumb, the biggest digital currency trade of South Korea additionally underpins this “right set of regulations”.

As posted online by a mysterious individual, the petition reads:

“Korean people can realize a happy dream, that we’ve never been able to have in South Korea, thanks to cryptocurrencies. I may be able to buy a house in a country where it’s very hard to buy a house. I may be able to live a life doing something I want to do. I may be able to take a breath. Please don’t take away our happiness and dreams that we could have for the first time living in South Korea.”

The petition likewise discusses the developing worry of the nation i.e its sluggish economy with a high youth unemployment rate in most recent two decades.

The petitioner additionally includes:

“When I voted for the Moon Jaein government, I was filled with the anticipation that finally I would be able to live like a human being. However, nothing has changed. Nothing has been improved. The economic downturn we feel is still the same. In winter, we opt for electronic blankets to save on our heating bills.”

As indicated by the reports, with regards to digital currency awareness and adoption among the nationals, South Korea is the most developed nation. In addition, over the most recent couple of months, the nation has likewise represented a colossal part of world’s trading volume in digital currencies.


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