South Korean students dive into virtual coins, evens as regulators crack down
Driven in part by a dismal economic outlook – including an unemployment rate almost three times the national average - young South Koreans are flocking to virtual currencies despite the risks and warnings from officials, analysts say.
On a recent weeknight at Sungkyunkwan University in Seoul, more than a dozen students crammed into a classroom to share tips on investing in so-called cryptocurrencies.
Hackers have stolen millions, lawmakers are pushing for new taxes and regulations, and a leading financial official has called them a “Ponzi scheme”. But that hasn’t cooled a frenzy for Bitcoin and other virtual currencies that is gripping young investors in South Korea.
On a recent weeknight at Sungkyunkwan University in Seoul, more than a dozen students crammed into a classroom to share tips on investing in so-called cryptocurrencies, which have driven tales of fantastic returns for savvy investors.
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