South Korean cryptocurrency regulator found dead

Jung Ki-Joon, head of economic policy at the South Korean Government Policy Coordination Office has been found dead, a fact that has shocked the country. Police are investigating the cause of death, which is believed to have been a murder because Jung was primarily involved in developing rules to regulate cryptocurrencies in the Asian country.

Jung Ki-Joon wanted to regulate the use of cryptocurrencies in South Korea

Jung Ki-Joon, was also in charge of coordinating the weekly meetings to discuss the regulation of cryptocurrency transactions, something that started in November of last year 2017, and some of his relatives have said that he was under great pressure since he assumed the charge at the end of last year.

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South Korea is one of the largest Bitcoin markets in the world, the country has 3 0 exchanges that saw 87.5 times more revenue in 2017 than in 2016, Bitcoin prices are trading higher than anywhere in the world. The country's currency, the Won, is also the fourth most popular currency for Bitcoin exchange after the US dollar, Japanese yen, and euro. It was estimated that around 5% of all cryptocurrencies in 2017 were exchanged using the Won.

Ki-Joon had previously said that digital currencies are not legal and that it would therefore be difficult for the government to respond to speculation about these currencies and any illegal activity. Kim Dong-yeon, the country's finance minister, said in January that there was no intention to ban or suppress cryptocurrencies.

However, the country has moved forward to ban all anonymous exchanges that were seen as a way to undermine the reason why many people use cryptocurrency to protect their identity.

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