Under the measure, only real-name bank accounts and matching accounts at virtual currency exchanges can be used for deposits and withdrawals, while the issuance of new virtual accounts to cryptocurrency exchanges will be banned, Hong said. Perhaps in response to the news, the cryptocurrency markets fell overnight, with Bitcoin slumping 10%.
Following this news, the Bitcoin price has plunged by more than 11% in the past 24 hours and is now trading at $14375.70, according to CoinMarketCap.
The South Korean government is planning to implement restrictive laws that will reportedly include a ban on opening anonymous cryptocurrency accounts to crackdown on money laundering and financial fraud.
Bitcoin climbed as much as 8.3% in Asian trading, before dropping back to trade 5.1% higher at $14 536 at 9.04am in London, composite Bloomberg pricing showed.
Trump commutes sentence of fraud-convicted kosher slaughterhouse CEO
Many called Rubashkin's sentence excessive compared with sentences imposed for similar crimes, the White House said. News of Rubashkin's commutation was greeted with joy among his community of Chabad-Lubavitch Jews in NY .
Authorities have also pointed out premiums in prices of cryptocurrencies traded on South Korean exchanges compared to other global counterparts. Before this correction, Bitcoin had managed to recover from a major correction last Friday when the cryptocurrency corrected to more than 40% going below $12000.
"Officials share the view that virtual currency trading is overheating irrationally. and we can no longer overlook this abnormal speculative situation", Hong Nam-ki, thw South Korean minister for government policy co-ordination said. I believe longer-term we go higher, but also recognize that short-term pullbacks are possible. While bitcoin's debut on regulated derivatives exchanges in Chicago was thought to have given it a new mainstream channel for investors to tap, so far trading volume has been limited.
He added Bitcoin's recent drop was largely expected, saying investors may see more and more volatility next year, given the lack of liquidity in the market.
Seneca County's jobless rate was lower in November from October and is lower than estimates from last November. The rate is down from previous year when it was 6.1 percent, not a statistically significant decline.
Tiger goes past 173 crore in 5 days!It has been a record breaking journey for Tiger Zinda Hai and Bollywood couldn't have bargained for anything lesser from it. Noted film critic and trade analyst shared Day three collections on Twitter.
Liverpool 'agree record fee with Southampton for Virgil an Dijk'Dembele has been linked with clubs in the Premier League, Ligue 1 and Serie A in advance of the January window opening. Media reports said Liverpool beat Manchester City and Chelsea who had both shown an interest in van Dijk.
Android Oreo rolling out to the LG V30…in KoreaAs per the report , the handset went from zero to 100 percent in 92 minutes compared to over two hours of charge time. The Oreo update is likely to make the mid-range smartphone an even more attractive buy for users in the market.
Donald Trump takes aim at Federal Bureau of Investigation deputy director Andrew McCabeIt is being reported that McCabe confirmed he was told by Comey that Trump demanded a loyalty pledge from the ex-FBI chief. After Comey's dismissal, McCabe served as acting FBI Director until the approval of the new director, Christopher Wray.
Woman, 19, killed when auto crashes into a utility poleJerry Brown said in a statement that he is "deeply saddened" by Camilleri's death. The crash happened Sunday night, Christmas Eve, on Interstate 880 in Hayward.
Trump is finally getting a wall built... in IrelandWhat's interesting is that Trump International cited rising sea levels and extreme weather in its 2016 permit application to build the wall, according to Politico .
Dave Chappelle to Drop Two Netflix Specials on New Year's EveIn one NSFW clip , Chappelle aims his jabs at the " poor whites" who helped elect Donald Trump during the 2016 election . Dave Chappelle admits to feeling sorry for the " poor white" population who voted for Trump in a new comedy routine.
Palestinian Girl Arrested For Repeatedly Slapping Israeli SoldierOn Monday night, the army balanced the scales by arresting the girl who had instigated the troubling encounter. Tamimi is well known as a leader of youth protests against Israeli soldiers in the West Bank.
Bigg Boss 11: Hiten Tejwani gets evicted from Salman Khan's showMeanwhile, Shilpa and Puneesh secretly discuss how Vikas is actually scared of Shilpa and which is why he is so sweet on her face. Hiten was the coolest contestant inside the madhouse and was loved and respected by not just the housemates, but also viewers.
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