Justice Minister Park Sang-Ki saidSeoul was preparing a bill to shut down the country's virtual coin exchanges, sending bitcoin and other virtual unit prices into a tailspin. The proposed legislation will need a majority vote of all 297 members of the National Assembly in order to ban trading outright.
Major cryptocurrencies like bitcoin are often traded at a premium on South Korean exchanges, meaning that they are at a higher price versus other exchanges in the USA or Europe for example.
This year, business leaders are voicing their opinion on the crypto phenomenon, leading to price fluctuations.
Following the market's reaction to the government announcement, the nation's Presidential office later said that a ban on the country's virtual coin exchanges was not finalized, although it was being discussed. Among the top 10 most traded cryptocurrencies, ethereum - which has gained 10% in a rally since Saturday - was the biggest loser. Korea emerged as something of a ground zero for the speculative mania, playing host to several of the world's most active exchanges.
The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the past year. Ripple trimmed its 21% tumble to a 14% drop, while ethereum slumped 5%.
On Wednesday, the nation's financial regulators have inspected banks that allow corporate customers to open virtual accounts on concerns such accounts could be used to circumvent a law banning them from attracting new investors for cryptocurrencies. It bought around $13,500 in afternoon trade today.
"Virtual currency is not based on an exchange of something with a certain value", he said.
Many saw this ban proposal coming with the South Korean Financial Services Commission prohibiting exchanges from issuing new accounts last month.
We were asked by the tax officials to disclose paperwork and things yesterday. The officials reportedly visited their offices amid an investigation into alleged tax evasion.
Meanwhile South Korean authorities are investigating six banks now offering virtual currency accounts that have possible links to money laundering.
KYLIE Jenner is reportedly not going to reveal her pregnancy anytime soon despite her rumoured due date to be weeks away. Only one clip of Kylie is shown, which is briefly shows her on FaceTime with her sisters.
He said: "We're at the end of our squad at the moment with injuries but, with the mentality today, you'd never have smelt that". I believe everybody is allowed to be passionate. "We just reacted quicker than our opponents".
Pence is not expected to meet with the Palestinians, who have sought to make Israel-annexed east Jerusalem their capital. He told the hosts that instead of condemning the decision, they should persuade their viewers to accept it.
It has improved connectivity over the last model, though, with a nano SIM card slot and support for 4G data speeds. The Swift 7 will feature a built-in eSIM for a fast and easy subscription process to your carrier of choice.
The "Harry Met Sejal" actress shared a picture of her grand welcome on the film sets and wrote, "Great to be back on set". She tied the knot with Virat in December at a private ceremony in Tuscany, Italy, away from the media glares.
Two former Google employees have accused the company of discriminating against white conservative men in a class action claim . The class-action lawsuit suggests that there may be many other current and former Google employees who similarly suffered.
I seem to remain secondary to their ambition, which undermines the powerful and embracing message they are trying to send. Blake Lively , who worked with Allen on his film Cafe Society , has not yet responded.
Two will be staged at Wembley following the first game which will be played at Tottenham Hotspur's new 61,000-seat stadium. Moving the Eagles game to London means Philadelphia will go 16 years between regular season visits to Jacksonville.
Director Ava DuVernay later wrote on Twitter that the room was "still vibrating like electricity from that speech". Her case attracted the help of the NAACP's Rosa Parks and become a national story, reported the New York Times .
GoPro's Karma Drone Gets Grounded
In a sign of troubled times ahead, camera maker GoPro has made a decision to cut 20 per cent of its global workforce. Over the last ninety days, insiders have sold 704,907 shares of company stock valued at $6,478,800.
Do Not Disturb Feature Coming to Xbox One
These Mini Game Hubs contain the same content seen in regular hubs, such as Achievements, friend activity and so on. The feature is coming to Xbox Insider members as of now and will be coming to all other users in the near future.
Vuzix Making Alexa-Enabled Smart Glasses, to Debut at CES 2018
In the meantime, Vuzix has published a quick guide and overview of what to expect from the Blade Smart Glasses on their website . The Vuzix Blade Augmented Reality Smart Glasses, as the company calls it, will set interested consumers back a hefty $1,000.
11 nationally in US News & World Report
With Temple at No. 1 for online MBA programs , Villanova University claimed the top spot among online, non-MBA business programs. This is the program's fourth consecutive year on the list.
Gas prices jump 15 cents at Mobil Guam, 76
Historically, gas prices rise 30-75 cents during spring maintenance season due to the supply reduction and summer-blend switch. But it's still 19 cents higher than at this time past year in the Bay State, when prices were averaging $2.29.
Reliance Jio vs Airtel vs Vodafone
All these data packs come with their similar offer of unlimited calls, SMS bundle, and access to Jio's bundle of applications. However, in most of the circles such as Bihar, Andhra Pradesh & Telangana, etc., the company is still offering old plans.