South Korean government departments have been at odds over what to do about cryptocurrency, but a January 18th report from Reuters in Seoul says that policy-makers had vowed to make a decision that same day.

At a national policy meeting, the head of SK’s Financial Services Commission responded to a member of parliament to explain how regulations might work. Choi Jong-ku said that the government was considering two options: either to shut down all the local cryptocurrency exchanges, or to close only those which have been \"violating the law. \"

The Finance Ministry and the Ministry of Justice have issued differing statements in recent weeks, with one side considering how to regulate cryptocurrency exchanges and the other wishing to ban them. Subsequent comment from the Presidential Office said that no such policy had yet been finalised, after enraged citizens began submitting petitions asking the government not to close the exchanges.

Meanwhile, SK\'s central bank may be taking a different approach. A separate Reuters report from the same day relates some press statements made by Bank of Korea\'s governor. These include the bank\'s intention to consider digital currency \"from a long-term standpoint.\" Research had been initiated at the Bank of International Settlements, the governor said, and BoK was \"part of that research.\"