South Korea Wants to Regulate Cryptocurrency Bitcoin Drops 12%
The courses of some of the popular cryptocurrency went down after the South Korean authorities have announced new regulations for this type of digital currency. Seoul is even considering banning them completely, which make the market mad.
As a result, today’s trade of Bitcoin is depreciated by about 12 percent. At the end of last week, investors sold widespread Bitcoins and their price fell from just over $15,000 to $13,000, according to CoinDesk.
“The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility,” the government said in a statement.
The reaction was because of the rumor that the country preparing the close the national online exchanges trade of cryptocurrency. South Korea will require real-time digital currency transactions and will prohibit banks from offering virtual profiles on the cryptocurrency exchanges.
While there is no indication that the fourth largest economy in Asia will stop the exchange of cryptocurrency, the news is causing concern, while regulators are raising concerns about private digital currencies. The Bitcoin is very popular in South Korea, especially for household needs and student payouts. Post from: GizBrainhttp://szlifestyle.com/sz/2017/12/29/south-korea-regulate-cryptocurrency-bitcoin-drops/https://i0.wp.com/szlifestyle.com/sz/wp-content/uploads/2017/12/Bitcoin-South-Korea.jpg?fit=1200%2C733https://i0.wp.com/szlifestyle.com/sz/wp-content/uploads/2017/12/Bitcoin-South-Korea.jpg?resize=180%2C150TECH NEWSBitcoin,cryptocurrency,South KoreaThe courses of some of the popular cryptocurrency went down after the South Korean authorities have announced new regulations for this type of digital currency. Seoul is even considering banning them completely, which make the market mad. As a result, today's trade of Bitcoin is depreciated by about 12 percent....Richard D.Richard Deendeen@szlifestyle.comContributorRichard Deen is a writer at szlifestyle. What can I say I love gadgets!szlifestyle.com Tech News, Life Style, Reviews, Videos!