Bitcoin cost latest: South Korea announces devise to anathema cryptocurrency exchanges

The cost of bitcoin forsaken neatly on Thursday after South Korea pronounced it designed to anathema trade in cryptocurrencies.

The pierce came after military and taxation authorities reportedly raided internal exchanges this week over purported tax evasion.

The digital currency fell more than 10 per cent from over $15,000 (£11,100) to around $13,300 in the early hours of Thursday morning UK time, before paring some of the losses.

South Korea has been one of the keenest adopters of bitcoin but the country’s probity minister, Park Sang-ki, pronounced in a press discussion on Thursday that the supervision had “great concerns” about digital currencies, Reuters reported.

The probity method is “basically scheming a check to anathema cryptocurrency trade through exchanges,” Mr Park said.

Legislation commanding a anathema will be theme to a infancy opinion of the 297-member National Assembly.

The news comes after the South Korean supervision criminialized cryptocurrency exchanges from opening new patron accounts in Dec as it attempted to rein in conjecture which has seen prices pitch extravagantly in new months.

  • 1/9

    Amazon shares boost

    Jeff Bezos, Amazon’s arch executive officer, now has a net value of $105.1bn, after Amazon share prices surged 6.6% per cent in the past year. According to the Bloomberg Billionaires Index Bezos is the richest male in the world, overtaking Bill Gates in Oct 2017.

    Getty

  • 2/9

    Walmart raises smallest salary in the US

    Supermarket hulk Walmart lifted the smallest salary for workers in the US to $11 and is also charity a $1000 income reward to workers. But not all staff will accept the full remuneration – only those that have worked for at slightest 20 years at Walmart are entitled to it.

    REUTERS

  • 3/9

    Kodak launches the possess cryptocurrency

    Remember Kodak? The photography organisation has jumped on the cryptocurrency bandwagon with the possess ‘KODAKCoin’ digital token.

    REUTERS

  • 4/9

    Supermarket staff indicted of unwrapping Creme Eggs to find esteem

    Cadbury has expelled a array of white chocolate eggs for Easter that are value £2,000. Shoppers have reported eggs being unwrapped and have indicted emporium assistants of unwrapping them in an try to explain the prize.

    PA

  • 5/9

    Million-pound home sales tumble

    Lloyds Bank has found that in the first half of 2017 the volume of properties offered for over £1m is down 1 per cent opposite Britain. The volume of £1m-plus sales in London has plummeted by 7 per cent compared to 2016 and is now at 6,613. Scotland saw the biggest diminution dropping by 35 per cent.
    Some areas of the country, such as Yorkshire and the North West, saw increases, but from a much smaller bases

  • 6/9

    Cryptocurrency combined as a fun increases in value

    Broken painting of the Bitcoin practical currency, placed on a guard that displays batch graph and binary codes, are seen in this painting picture, Dec 21, 2017

    Reuters

  • 7/9

    Persimmon expects to surpass markets yearly expectations

    The company, who recently paid their CEO a reward of over £100m, finished 16,043 new homes in 2017, an boost of 6 per cent. The housebuilder now has an normal cost of £213,300, and has gifted a high approach over the past year. Their final results for 2017 are expelled on 27 Feb

    Rex

  • 8/9

    Huge spoliation at Shell’s biggest oil refinery

    17 group have been arrested in Singapore after military seized millions of dollars during a raid while questioning a array of robberies. Nine group have been charged with burglary and another two were charged with receiving stolen goods.
    Oil enlightening and shipping are outrageous industries for Singapore but the nation is now struggling with crime trustworthy to the oil trade hub.

    AP

  • 9/9

    Apple pressured to examine effects on children

    Two investors have lifted concerns about the probable health risks of children being dependant to their phones. The investors have called for relatives to have more control over tying children’s time on phones and tablets, amid fears that spending too long on inclination could have long tenure health effects.

    Reuters

Politicians and executive bankers around the universe have warned that bitcoin and other digital currencies are intensely unsure investments that have the intensity to crash.

Until now, authorities have mostly stopped brief of approach intervention, but augmenting fears about scams, income laundering and hacks related to cryptocurrencies, could attract serve courtesy and meant more crackdowns in future. 

In December, the Bank of England set up a examine group to examine how digital currencies might impact the financial system, but approaching law in the UK appears unlikely. The BoE’s emissary administrator in assign of financial stability, Sir Jon Cunliffe, pronounced in November that bitcoin was not big enough to upset the tellurian economy, but that “investors need to do their homework”. 

  • More about:
  • cryptocurrency
  • bitcoin
  • South Korea

Article source: http://www.independent.co.uk/news/business/news/bitcoin-price-latest-south-korea-trading-ban-value-drop-cryptocurrency-park-sang-ki-digital-currency-a8153021.html