South Korea’s financial regulators have started implementing regulations as illegal activity started increasing. South Korea even started banning foreigners and minors from opening new cryptocurrency accounts.
The South Korean government is aiming to tackle money laundering and crimes related to this. The government is more likely concerned about the manipulation of market conditions as well as the injections of the illegal funds. Even if South Korea has been through a Cryptocurrency cyber attack but South Korea still has not planned to ban the cryptocurrency exchanges. the concern of the govt. to maintain stability is the reason why South Korea is banning all foreigners from trading Cryptocurrency.