On Friday, Kim Dong-yeon, South Korea's minister of planning and finance, met with Zhou Xiaochuan, governor of the People's Bank of China. Both sides discussed the digital monetary policy and emphasized that both sides will further strengthen cooperation.
Compared with the Korean digital currency market, China has adopted a "one size fits all" ban on the digital currency industry, not only does not allow digital currency transactions, but also closed the digital currency exchange.Although the South Korean government had also hoped to prohibit the digital currency trading, but in After a strong social rally, the attitude has changed again and decided to take a more gentle "soft landing" approach to solve the problem step by step.On the end of last month, all digital currency exchanges in Korea all use the latest real-name account trading system, while trading The amount also has certain limits.
South Korean media Newsis quoted Kim Dong Yan as saying:
For both the recent series of questions on virtual currency, both China and South Korea exchanged views on the situation and countermeasures. '
In addition, Asia Today also reported that the People's Bank of China reiterated on both sides that it will work closely with the South Korean government while the South Korean Ministry of Planning and Finance said it will continue to cooperate with the People's Bank of China through high-level consultation channels.
On the other hand, the reason why South Korea did not completely close the digital currency exchange was mainly due to other issues such as underground transactions and hot money fleeing.
Kim Dong-Yan said the Korean digital currency exchange is not a financial entity and can only be regulated under the e-commerce law at the moment, while the digital currency exchange in neighboring Japan is registered and managed under the state finance department. He said:
'At this stage, one of the biggest problems with the digital currency industry in South Korea is that the exchange is governed by the e-commerce law. This is a problem to be solved.'