Last Thursday, conflicting reports from South Korea on a possible ban on cryptocurrency was said to have contributed to a massive sell off driven by FUD (fear, uncertainty, doubt).
Reuters had initially reported that the country’s Justice Minister, Park Sang-ki, revealed the planned ban in a press conference. However, South Korea-based Cointelegraph reporter Joseph Young tweeted that the South Korean Ministry of Strategy and Finance did not agree with the decision, citing local sources.
Young also clarified that the “raids” of authorities on local exchanges reported by Reuters and other mainstream media outlets were highly exaggerated and were in fact just routine visits from tax representatives.
Source: Coin Telegraph