South Korea about to block digital coin trading

Posted 11 January, 2018

Seoul announced its plans to restrict trading of cryptocurrencies on Thursday, which drove prices down and summoned concerns in the crypto market, according to the sources. Law enforcement forces in tandem with tax authorities raided exchanges on tax evasion suspicions.  

Specifically, the government is drawing up a bill to black out crypto trading on local exchanges, commented  South Korea's Minister of Justice.

South Korea, one of the key sources of global demand for digital coin, announced tight measures on officials' attempts to look into cryptocurrency regulation given soaring prices in 2017.

As the blockade requires the majority of votes in the Parliament, the bill adoption can take months or years.

With such announcements of Seoul, cryptocurrency is being actively sold out on local and foreign platforms.

Bitcoin has lost 21% in price to KRW 18.3 million ($17,064.53) on this route.  

On Bitstamp bitcoin price fell 8.8% to $13,580 after hitting the bottom of $13,120 since January 2.

Previous story

11 January, 2018 16:14

← US dollar to yen improves amid Beijing's bonds plan denial

The US dollar has moved up from the bottom against yen once Beijing disproved reports about the recommendation to reduce or suspend US Treasuries buying from China's foreign exchange regulator. EUR-USD has gained 0.36% to 111.84 today, after hitting the bottom over a week and a half at 111.26 on Wednesday. The US dollar weakening by 1% was recorded on news that China's officials had recommended...

US dollar to yen improves amid Beijing's bonds plan denial

Next story

11 January, 2018 11:57

Bank of Japan leaves bonds buying unchanged →

The Bank of Japan has made no changes of the state bond buying on Thursday. As a result, the market has somewhat calmed down, as rumors about a reduction of the purchase volumes summoned fears that the central bank might cancel its stimulus programs. the purchase volume for bonds with 1-3, 3-5 and 5-10 year maturity has remained at JPY 250 billion ($2.24 billion)...

Bank of Japan leaves bonds buying unchanged
Write a comment
Prove you’re not a bot + 11 = 29