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South Korea weighs further crackdowns on the crypto space

by | 15 Jan, 2018

Nordstrom Kohl's Target Macys

 

While Bitcoin prices continued to wallow below $14,000 earlier thanks to news regarding more government intervention in the cryptocurrency space, there may yet be more bad news on the way.

An official at Korea’s Office for Government Policy Coordination said at a news conference that South Korea’s recently announced plan to ban trading on cryptocurrency exchanges was just “one measure in talks to curb speculative investments” according to Reuters.

This could mean the government is considering further restrictions on the cryptocurrency market in an effort to protect investors. The words came around a week after China moved to shutter Bitcoin mines following concerns of excessive electricity consumption and major financial risk, from a government in Beijing that has shown its hostility towards cryptocurrencies many times before.

Related: Bitcoin price to hit $100,000 in next 12 months – Invstr CEO Kerim Derhalli in The Express

Nordstrom Kohl's Target Macys

Bitcoin prices begin to rebound into the afternoon of January 15th despite reports that South Korea may have further to go in its crypto crackdown

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ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.

 

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