China and South Korea want to end bitcoin

The world's most populous country faces a paradoxical issue regarding bitcoin: since electricity is very cheap in the country, 'mincing' the coin turns out to be an immensely profitable business - but ends up spending a huge amount of electricity. Now, the Chinese government intends to raise the price of energy, create taxes and environmental barriers for bitcoin miners to pull out of business.
s move, of course, will not go unpunished - and it is because of this that Bitmain, a Chinese mining company, is opening a subsidiary in Switzerland - a country with friendly jurisdiction and a favorable regulatory environment - so the city that will receive the Bitmain, Zug, is known as "valley of the criptomoedas".

Already South Korea is considering banning business with bitcoin. According to the country's Justice Minister, Park Sang-ki, virtual currencies are a "major concern of the government," and they are already preparing a law to ban them.

Although the bitcoin market is not as large in South Korea as it is in neighboring China, its global transactions account for a total of 20 percent of crypto-currency exchanges.Hours after the announcement by the South Korean government last Tuesday (11), the currency lost $ 2,000 of its value after starting the day quoted at $ 14.3 thousand.Being an extremely volatile currency, however, it is not possible to know if the fall will be continuous.