Posted : 2018-01-12 16:49
Updated : 2018-01-12 21:56

Cryptocurrency investors petition Cheong Wa Dae for trading

By Jhoo Dong-chan

Cryptocurrency investors in the country are petitioning Cheong Wa Dae against its move to ban trading of virtual currencies. Over 80,000 investors have signed the petition so far as of Friday.

If the petition is signed by 200,000 citizens within 30 days of it being posted on the Cheong Wa Dae website, the Presidential office should come up with its official stance on the petition.

The petition says: "Each individual is subject to be responsible for his or her own investment. But the government has continuously claimed virtual coin trading is an absolute losing game for everybody, misleading the public and media."

It also says that some people could "make their dreams come true through cryptoceurrency trading. Some can even buy a house, a hope that contributes to our lives."

A series of similar petitions have been posted on the Cheong Wa Dae website. So far, 555 petitions have been posted there.

Despite investors' demand, the nation's credit card companies have reportedly decided to ban investors' purchase on foreign cryptocurrency exchanges using their cards.

According to The Credit Finance Association, the nation's eight credit card companies are working on their processes to ban investors' credit and check card purchases on foreign virtual coin exchanges.

The decision follows the justice ministry's announcement yesterday that it is preparing its bill to ban cryptocurrency trading and shut down the nation's virtual coin exchanges.

"Card companies have voluntarily joined the government's move to ban cryptocurrency trading. But we don't know about their timetable to ban investors' foreign purchase," a Credit Finance Association official said.

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