Spoke with someone near Korean Parlaiment. It's ironic that the progressive party in power is trying to ban Bitcoin. And the conservatives are outraged.
Turns out this is political strategy.
The conservative party has held power for all but 3 presidencies since all of Korean history.
So Moon presidency knows that the only way to make Bitcoin flourish is to get the crusty narrow minded rich conservatives to support Bitcoin. They would never do that unless Moon Administration Resisted bitcoin. Moon is the only thing they hate more than Bitcoin. Oh, and women in the workplace.
So Moon is asking the progressive justice minister to act conservative to get the conservatives to take a progressive stance. Get it?
So that means, until the conservatives really get loud, Bitcoin price will keep falling.