Bitcoin drops $2,000 in value as South Korea announces planned trading ban

in smartcryptotrader •  7 years ago 

The value of bitcoin plunged 13.5% in the early hours of Thursday after news hit that South Korea is planning to ban cryptocurrency trading.

News of the ban follows the raiding of local cryptocurrency exchanges by police and tax authorities over alleged tax evasion, as one of the key nations driving the demand for bitcoin and other virtual currencies attempts a clampdown.

“There are great concerns regarding virtual currencies and [the] justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” justice minister Park Sang-ki said.2155.jpg2155.jpg

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7 years ago by

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      ·  7 years ago 

    This is only the beginning, but they can't stop Bitcoin!

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