A South Korean pan-governmental meeting has reportedly been held to establish closer monitoring of the country’s cryptocurrency market amid the recent sharp uptick in crypto valuations. The news was reported by local broadcasting station KBS World Radio on May 28.
Today’s meeting, led by the Minister of the Office for Government Policy Coordination, Noh Hyeong-ouk, was largely prompted by bitcoin (BTC)’s recent break above 10 million won (~$8,400), the report states. The coin last hit a similar valuation around a year ago, with local officials ostensibly interpreting the fresh surge as a sign of a possibly overheating market.
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