Bitcoin Plummets As South Korea Prepares Bill To Ban Cryptocurrency Trading

Published on 11 January 2018

Bitcoin fell over 12% today after South Korea’s justice minister Park Sang-ki said that the government is preparing a bill to ban cryptocurrency trading in the country – which is one of the world’s biggest digital currency markets, according to CNBC.

Park Sang-ki said at a press conference: “There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges.”

Earlier this week, South Korean authorities raided several of the country’s largest cryptocurrency exchanges for alleged tax evasion.

Read the original story here.

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