South Korean cryptocurrency holders have described a potential exchange ban as “not a big problem” as Seoul launches an investigation into insider trading.
Exchange Ban Has ‘Capital Outflow’ Risks
Speaking to mainstream western media about the current turbulent regulatory climate in the country, one holder said opening an account on a foreign exchange or using connections abroad as proxies were both feasible options should the government enact a ban.
The anonymous party told CNBC:
In case the government shuts down all local exchanges, investors can always go abroad and open an account there. […] I can ask my friends who study abroad or travel there myself. It’s not that big of a problem.