Newsflash: Bitcoin Price Falls Near $12,600 Amid South Korea Trading Ban Fears
Bitcoin price plummeted to a 2018-low on Thursday after South Korea’s justice minister reportedly proposed a complete shutdown of all cryptocurrency exchanges in the country.
In a press briefing today, South Korea’s justice minister Park Sang-ki stated in quotes reported by local publication Yonhap News:
“The ministry is preparing legislation that basically bans any transactions based on a virtual currency through the trading floor. We have grave concerns about [the craze over] virtual currency and [a shutdown] would be one of the goals we are aiming for.”