South Korea seemingly calmed down with regulations after banning anonymous trades

The South Korean government, seeing the vibrant community and its rapid reaction to the statement of the Minister of Justice who theoreticized about the ban of all cryptocurrency exchanges in the country, decided to prohibit anonymous cryptocurrency trades instead - and indeed, the prohibition is now in force.

As reported by the regional media, six major South Korean banks agreed to work with digital currency exchanges in compliance with new regulations: Gwangju Bank, Hana Bank, Industrial Bank, Kookmin Bank, Nonghyup Bank and Shinhan Bank. No virtual bank accounts and foreign users are allowed, while previously the traders of South Korea had these opportunities.

Since this ban of anonymous traders, the news reports coming from South Korea seemingly became calmer, which might signal the end of the conflict between the government and the cryptocurrency community. As noted by the officials, the initial statement by the Justice Minister provoked a storm of letters flooding the Blue House (local state administration headquarters akin to the White House in America).