Bitcoin price tumbles after South Korea joins cryptocurrency crackdown
Bitcoin price tumbles after South Korea joins cryptocurrency crackdown
Cryptocurrency Bitcoin falls due to new South Korean regulations Ripple surges
31 December, 2017, 23:43
As a result, it has said that locally based exchanges are banned from issuing new trading accounts.
The South Koreangovernment announced this morning that it wants to crack down on speculation in cryptocurrency trading in the country.
The Ministry of Justice has drafted a special cryptocurrency law and is considering the possibility of closing down exchanges involved in suspicious or illicit activities such as money laundering. A major issue Korean traders face are the discrepancies in prices which can be much higher on local exchanges than in other countries.
The selloff came as South Korea revealed it is taking several steps to combat speculation in cryptocurrencies.
Earlier this month, South Korean exchange Youbit filed for bankruptcy after is lost $45 million in a hack, as well as $92 million in another hack back in April.
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. Exactly how and when this might happen wasn't made clear, but it was enough to affect bitcoin and Ethereum prices, which dropped 12 percent and 8 percent, respectively, in the wake of the news, though both digital currencies have recovered slightly.
As originally reported by Reuters, South Korean officials have taken yet another regulatory approach to temper crypto enthusiasm among its citizens.
Some might refer to Litecoin as the little brother of Bitcoin, but we like to think of it more as its own being, a P2P cryptocurrency that utilizes blockchain technology - which also took 2017 by storm - in order to maintain and control a public ledger easily. The majority of the market is probably paying the most attention to Bitcoin, which has taken the market by storm in 2017 but has seen itself into a slump recently after hitting an all-time high more than two weeks ago.
However, if history is any indication, this pain may only be short term. However, since then it continued to soar, hitting nearly 1400 percent growth for the year so far.
However, Gustav Klimt bounced back with a fine performance at the Barronstown Stud Irish European Breeders Fund in June last year. Gustav Klimt moved to the inside down the final furlong and found just enough speed to beat out his compatriot Nebo by a head .
Treasury Department announcement of sanctions on 20 North Korean vessels and six shipping and trading companies. Hua, the Chinese foreign ministry spokeswoman, said she had no information about the Hong Kong ship.
Selway Asset Management decreased its stake in Fedex ( FDX ) by 28.17% based on its latest 2017Q3 regulatory filing with the SEC. Oppenheimer has "Buy" rating and $22900 target. (NYSE:LOW) earned "Hold" rating by Piper Jaffray on Wednesday, November 22.
Moreover, Ameritas Invest Partners has 0% invested in AMC Entertainment Holdings, Inc. (NYSE:HON) or 452 shares. (NYSE:HON). Parametric Portfolio Associates LLC lifted its position in Honeywell International by 5.4% in the 3rd quarter.
Police have deployed 230,000 personnel to protect churches, parks and other vital public institutions during the Christmas season. According to the BBC , Egyptian police patrolling near the church approached two men who were behaving suspiciously.
Australia have won their Hopman Cup opener against Canada after Thanasi Kokkinakis and Daria Gavrilova won their singles matches. The Canadian team responded in the mixed doubles winning 4-3 (1), 4-3 (4) in the Fast4 format to gain some consolation.
No flights could take off from Delhi's IGI for almost four hours between 7.30 am and 11.05 am, according to an airport official. Passengers were stuck at other airports in the country as well, as the bad weather delayed incoming flights to Delhi .
The Daesh terrorist group later claimed responsibility for the attack, which coincided with the Christian Palm Sunday holiday. At least three people have reportedly been killed after an attack on a church south of Cairo , according to reports.
The stock of Occidental Petroleum Corporation (NYSE: OXY ) earned "Buy" rating by Credit Agricole on Tuesday, December 15. The stock has "Buy" rating by Bank of America on Friday, October 13. (NYSE:NLY) on Friday, October 9 to "Neutral" rating.
Amidst the firing, Jagsir Singh, 32-years-old, got grievously injured and later on succumbed to his injuries. Sharma condemned Pakistan for repeated ceasefire violations along the LoC.
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