Current scrutiny of cryptocurrencies like Bitcoin are having a dramatic effect on their price. Two prime Asian countries are threatening crackdowns on trading and exchange of unregulated currency.
A drop of below $12,000 on Tuesday rocked Bitcoin investors as reports out of South Korea's finance minister spawned worries about a crackdown in one of the biggest markets for digital currency exchanging.
South Korean Finance Minister Kim Dong-yeon was interviewed via radio saying "the shutdown of virtual currency exchanges is still one of the options" our government has, according to South Korea's Yonhap News.
With such a big drop of more than 19% to a low of $10,969.15 on Tuesday, the lowest since December 2017. At the end of the trading day the price was around $11,048, according to CoinDesk.
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