South Korea moves to regulate cryptocurrency trading

28.12.2017 / 10:21

South Korea will regulate BTC more severe

Rating:

The cryptocurrency fell as low as $13,672.16 on Thursday — an 11% decline compared with the beginning of the day, according to leading industry site CoinDesk.

That remained above the low of $10,400 it hit last Friday amid a session of highly volatile trading. There had been no immediately apparent explanation behind that fall.

The latest moves came as the South Korean government announced it would implementing new rules in a bid to regulate trade in the digital currency in the country.Those new regulations would include prohibiting anonymous trading accounts and could give authorities the ability to shut down exchanges.

Earlier on Thursday, the head of the country's financial regulation agency told reporters that the "bubble in bitcoin will burst later".Cedric Jeanson, CEO of trader BitSpread, believes the move was "quite positive" and "normal" for regulators.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

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South Korea moves to regulate cryptocurrency trading

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