Skip to main content

Bitcoin prices fall as South Korea says ban still an option

By

Bitcoin prices fall as South Korea says ban still an option


The price of ethereum, another digital currency, had slipped 7.8 per cent to $1,190.45 as of 8:04 a.m. GMT.

Prices of bitcoin and other digital currencies have skidded after South Korea's top financial policymaker said Tuesday that a crackdown on trading of crypto currencies was still possible.
Finance Minister Kim Dong-yeon said in an interview with local radio station TBS that banning trading in digital currencies was "a live option." He said the decision was subject to a thorough government review.
"There are no disagreements over regulating speculation," such as using real-name accounts and levying taxes on crypto currency trading, Kim said. Shutting down digital currency exchanges is "a live option but government ministries need to very seriously review it," he said.
Bitcoin was trading at $12,615.60, down 7.1 per cent from the day before as of 8:03 am GMT, according to Coindesk. The price of ethereum, another digital currency, had slipped 7.8 per cent to $1,190.45 as of 8:04 a.m. GMT.
South Korean officials' remarks have swayed the global markets for bitcoin and other crypto currencies in the past few weeks. The country has seen a huge bitcoin craze, with young and old betting on the crypto currency to build wealth. The high demand from South Korean investors has created what investors call a "kimchi premium," the extra price the South Koreans have to pay to buy digital currencies, sold in South Korea at higher than the average global prices.
Last week, the justice minister's remark that the country will ban bitcoin and other digital currencies triggered big sell-offs and a public outcry. The presidential office then said that no final decision had been made.
An online petition on the presidential office's website has drawn more than 210,000 requests from people asking the government not to ban trading in digital currencies.
"We the citizens were able to have a happy dream that we had never had in South Korea thanks to crypto currency," the petition reads. "You may think you are protecting the public but we citizens think that the government is stealing our dream."
Labels:

Comments

Post a Comment

Popular posts from this blog

Google Pixel, Pixel XL pre-orders open: Here are the unique features

By
Google Pixel, Pixel XL pre-orders open: Here are the unique features Google  Pixel and Pixel XL smartphones are available on Flipkart for pre-order. And it looks like Google is only bringing the ‘Quite Black’ colour variant to India for now, with ‘Very Silver’ and ‘Really Blue’ both not available in India yet. Google Pixel and Pixel XL with their premium pricing are set to compete with the likes of Apple iPhone 7, iPhone 7 Plus,  Samsung Galaxy S7  and Galaxy S7 edge. Google Pixel and Pixel XL are first ‘Made by Google’ smartphones, and come with Google Assistant in-built, which is also the highlight of the devices. Honor 8 First Look Video Google Pixel and Pixel XL have a aluminum and glass design. Google Pixel is priced at Rs 57,000 for 32GB version in India. The 128GB variant of Google Pixel costs Rs 66,000. Google Pixel XL is available at Rs 67,000 for 32GB stor...
Post a Comment
Read more

Make self control freak talk

By
Make self control freak talk!!!!! Make him talk http://www.selfcontrolfreak.com/word.html
Post a Comment
Read more

GTA 5 Windows PC Version For Intel and AMD Details revealed.

By
 GTA 5 Windows PC Version For Intel and AMD Details revealed. Rockstar games' highly-anticipated multiplayer Grand Theft Auto 5 (GTA 5), has been released for only current generation gaming consoles such as  Microsoft  Xbox 360 and  Sony  PlayStation, dissapointing some fans who are craving for the PC Version of GTA 5. However, e-retailer Game Seek has  stat ed  that GTA 5 PC version will be rele ased on 22 November 2013 and can be pre-ordered for $39.86. The website did mention that the dates is subjected to change by the manufacturer. Here is a list of requirements predicted by the website for  Intel  and  AMD  based Windows PCs:  Intel Core 2 Dou E 4600 2.4GHz  GeForce GT 340  2 GB RAM  Windows XP or 7  DirectX 10.0    32 GB Hard drive   AMD GTA 5 Athlon 64 X2 Dual Core 5400+  Radeon HD 3800 series  ...
Post a Comment
Read more