South Korea Considers Shutting Virtual Currency Exchanges

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    South Korea's financial regulator chief said the government is considering shutting down all local virtual currency exchanges in a national policy committee meeting on Thursday, Reuters has reported.

    South Korea Considers Shutting Virtual Currency Exchanges
    Bitcoin and other currencies have come crashing down already on fears of a clamp-down in trading, particularly in South Korea.

    Bitcoin has halved in value from over $20,000 to under $10,000. However, there are many South Koreans who are opposed to such a move and have rallied against the same.

    Late on Wednesday as much as $100 billion in value was wiped off from the various virtual currency market following the possibility of the ban. China has already come down heavily on crypto curencies.

    Many analysts are now said that there could be a further downside risk for Bitcoins and similar instruments. Analysts at Citigroup see a further crash to $5600 or thereabouts for bitcoins.

    GoodReturns.in

    Read more about: bitcoins ripple
    Story first published: Thursday, January 18, 2018, 8:42 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more