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South Korea refuses to ban cryptocurrencies – Bitcoin adds

Wednesday, February 14th, 2018 | bitcoin updates

          
    
    
    (Image: dpa / Jens Kalaene)
                
            
             South Korea's government wants to focus on making cryptocurrency trading more transparent, rather than outlawing it.
            

        

        The government of South Korea has ruled out a fundamental ban on cryptocurrencies despite cracking down on cyber currency. It will focus on making cryptocurrency trading more transparent, rather than outright outlawing it, said Hong Nam-Ki, coordinator of government policy, in a video message released Wednesday.
With his statements, the Minister met with corresponding fears, after South Korea had last driven a tough course on the subject of cryptocurrencies.

Bitcoin climbs In mid-January, Justice Minister Park Sang-Ki said it was working on a bill to ban trading in crypto money. As early as December, it was said that trading would only be possible on certain stock exchanges in the future. The resulting capital gains should also be taxed to limit speculation.
The prices of many crypto currencies rose significantly on Wednesday. Bitcoin, the most well-known of them, climbed 10 percent to more than $ 9,000 per unit on leading trading platforms such as Bitfinex and Bitstamp.
 (dpa) /

(ANW)

      

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