Bitcoin tumbles as South Korea plans trading ban

Article source
Financial Times

South Korea is planning a bill to ban cryptocurrency trading as a clampdown on virtual currencies gathers pace in one of the world's most exuberant bitcoin markets.

“There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” said Park Sang-ki, South Korea’s justice minster. 

Any bill would need to be passed by the National Assembly and, if successful, could in effect end trading of cryptocurrencies in the world’s third-largest market.

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