韩国要禁止所有crytocurrency交易# Stock
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Bitcoin falls 9% after one of the world's biggest cryptocurrency markets
readies a bill to ban trading
South Korea's justice minister said on Thursday that a bill is being
prepared to ban all cryptocurrency trading in the country.
That news is a major development for the cryptocurrency space, as South
Korea is one of the biggest markets for major coins like bitcoin and
ethereum.
According to industry website CryptoCompare, more than 10 percent of
ethereum is traded against the South Korean won — the second largest
concentration in terms of fiat currencies behind the dollar. Meanwhile, 5
percent of all bitcoin are traded against the won.
"There are great concerns regarding virtual currencies and justice ministry
is basically preparing a bill to ban cryptocurrency trading through
exchanges," Park Sang-ki said at a press conference, according to the
ministry's press office.
Bitcoin tumbled nearly 9 percent following Park's remarks. At 11:50 a.m. HK/
SIN, the cryptocurrency traded at $13,557 per token.
He added that he cannot disclose details about the proposed shutdown of
virtual currency exchanges but will jointly work with the government task
force.
That news comes after the country's largest cryptocurrency exchanges were
raided by police and tax agencies this week for alleged tax evasion, people
familiar with the investigation told Reuters.
—Reuters contributed to this report.
readies a bill to ban trading
South Korea's justice minister said on Thursday that a bill is being
prepared to ban all cryptocurrency trading in the country.
That news is a major development for the cryptocurrency space, as South
Korea is one of the biggest markets for major coins like bitcoin and
ethereum.
According to industry website CryptoCompare, more than 10 percent of
ethereum is traded against the South Korean won — the second largest
concentration in terms of fiat currencies behind the dollar. Meanwhile, 5
percent of all bitcoin are traded against the won.
"There are great concerns regarding virtual currencies and justice ministry
is basically preparing a bill to ban cryptocurrency trading through
exchanges," Park Sang-ki said at a press conference, according to the
ministry's press office.
Bitcoin tumbled nearly 9 percent following Park's remarks. At 11:50 a.m. HK/
SIN, the cryptocurrency traded at $13,557 per token.
He added that he cannot disclose details about the proposed shutdown of
virtual currency exchanges but will jointly work with the government task
force.
That news comes after the country's largest cryptocurrency exchanges were
raided by police and tax agencies this week for alleged tax evasion, people
familiar with the investigation told Reuters.
—Reuters contributed to this report.