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Wednesday, 7 February 2018

South Korea Supreme Court To Decide The Legality Of Crpto Regulations

Consequent upon the regulations passed by the South Korea government to regulate Cryptocurrency, a local law firm filed a case to the constitutional court of Korea on 30 December 2017.

Read Also: Cryptocurrency: Singapore Finally Bows To Presure

The constitutional appeal filed against the Korean government over crypto-regulation  has been referred to the country's supreme court.

The Korea Times reported and quoted the law office that filed the case, stating:

The government regulations are devaluing virtual currencies by making trading very difficult - Thus this is an infringement on people's property rights by the governments unlawful measures.
The case is expected to conclude by the end of June. If the supreme court decides that the government regulations are unconstitutional all the existing cryptocurrency regulations may be repealed.

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