South Korea considers shutting down domestic cryptocurrency exchanges, Reuters

SEOUL (Reuters) – South Korean policymakers joined the mundial chorus of virtual-coin critics on Thursday, telling Seoul is considering shutting down domestic imaginario currency exchanges spil the fresh veelzijdig of market exposes users to speculative madness and crime.

The country&rsquo,s harsh stance comes spil policymakers from the United States to Germany fight to come up with stricter regulation against money laundering and other crimes.

Responding to questions ter parliament, South Korea&rsquo,s chief of the Financial Services Commission said: &ldquo,(The government) is considering both shutting down all regional imaginario currency exchanges or just the ones who have bot violating the law.&rdquo,

Separately, Canap of Korea Governor Lee Ju-yeol told a news conference that &ldquo,cryptocurrency is not a procesal currency and is not being used spil such spil of now.&rdquo,

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Regulators around the world are still debating how to address risks posed by cryptocurrencies, spil bitcoin, the world&rsquo,s most popular imaginario currency, soared more than 1,700 procent last year.

Prices have plummeted since South Korea announced last week it may geobsedeerd domestic cryptocurrency exchanges. On Wednesday, bitcoin slipped Eighteen procent.

According to Bithumb, South Korea&rsquo,s second-largest supuesto currency exchange, the nation&rsquo,s bitcoin trading price stood at 15,697,000 won ($14,690.Sixty-nine) spil of 0314 GMT on Thursday.

On the Luxembourg-based Bitstamp exchange, bitcoin wasgoed traded at $11,750.

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Hong Nam-ki, minister of the office for government policy co-ordination, said that opinions on cryptocurrency trading are sharply divided within the government, but vowed to make a decision on regulations during Thursday&rsquo,s parliamentary session.

South Korea&rsquo,s justice minister said last week the ministry wasgoed preparing a bill to kerkban cryptocurrency trading, which sent bitcoin prices sharply lower and threw the market into turmoil.

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The shift toward tighter regulation sparked strong reaction from many South Koreans, thousands of whom signed a petition on the webstek of the presidential Blue House to zekering a kerkban on cryptocurrency trading.

On Thursday, the Mannetjesgeit governor said the central canap had begun looking into the market&rsquo,s influence on the economy.

&ldquo,Wij have embarked looking at supuesto currency from a long-term standpoint, spil central banks could embark issuing digital currencies ter the future. This sort of research has begun at the Canap of International Settlements and wij are part of that research.&rdquo,

Reserve reporting by Christine Kim, Editing by Sam Holmes and Jacqueline Wong

2 comments / Add your comment below

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