South Korea to impose new curbs on cryptocurrency trading
The steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed.
By: Reuters | Seoul | Published: December 28, 2017 11:19 am
It noted that trading prices of most virtual currencies were much higher on South Korean exchanges than they were on exchanges in other countries. (AP Photo/Kin Cheung, File)
South Korea’s government said on Thursday it will impose additional measures to regulate speculation in cryptocurrency trading within the country. “The government had warned several times that virtual coins cannot play a role as actual currency and could result in high losses due to excessive volatility,” the government said in a statement.
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.
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