Part of the trading in South Korea is carried out anonymously and this might be banned if we are to believe new reports in global media.
"Cryptocurrency speculation has been irrationally overheated in Korea", the South Korean government said in a statement reported by Bloomberg.
It noted that trading prices of most virtual currencies were much higher on South Korean exchanges than they were on exchanges in other countries, although it did not provide specific examples.
As a part of this crackdown, South Korean regulators will close down anonymous accounts next month.
South Korea's government said on Thursday it will impose additional measures to regulate speculation in cryptocurrency trading within the country.
Today as of 10 AM ET, bitcoin is trading at $14,080.01, according to CoinBase.
NEW YORK, Dec 28 (Reuters) - The dollar fell to a one-month low versus a basket of currencies on Thursday on a less upbeat US growth outlook after the passage of major tax cuts, while bitcoin declined for a second day after South Korea stiffened rules on cryptocurrency trading.
"We will. resolutely respond to such crimes by slapping maximum sentences possible on offenders", the government said, vowing to "leave all policy options open, including closure of a cryptocurrency exchange when deemed necessary". The latter was recommended by the justice ministry, according to the statement. Bitcoin and other virtual coins are often traded at a significant premium on South Korean exchanges, with Ripple (XRP) and IOTA (MIOTA) being two of the most recent examples of that trend.
Rahul, Rohit rise in ICC T20I rankings
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