https://www.verdict.co.uk/wp-content/uploads/2017/11/south-korea-bitcoin-1440x960.jpg

Yesteday I wrote about how the ECB conclued that bitcoin and the cryptocurrencies market in non of their business and are going to leave the market be. Today The chief of the coordinating committee of the Ministry of Government Administration and Home Affairs, has giving the goverment answered and explained the government's consistent principle of "virtual currency" trading transparency "top priority, active promotion of block chain technology". Which were questioned in a petition signed by 288,295 people.

The short explanation from the answer is as so:

"It is the basic policy of the government to prevent illegal acts and opacity in the process of virtual currency transactions, and actively nurture block-chain technology."

"Transparency of virtual currency transactions within the framework of current law is a top priority.

"We have been attentive and careful, keeping an open eye on market conditions, international trends, and all means"

This is very good news for the crypto world, as South Korea is accounting for bitcoin trading volume greater than 12% of the total combined BTC trading in recent months. The recent rumors of South Korea banning bitcoin and market trading could have been one of the reasons for the big down trend we have seen in the market for the last month. As of writing this bitcoin is again on it's way to pass the 10.000 USD. ![](https://steemitimages.com/DQmPp12azaNxrJW4Mq84QwyyKgrXaAJrBbZNm1JHPZ1FkRv/image.png)

More can be read here