Crypto prices suffer as Korean government announces new regs, potential ban
Dec 15, 2017-Seoul, South Korea-A Screen shows the prices of bitcoin at a virtual currency exchange store in Seoul, South Korea. South Korean is studying ways to regulate speculative trading in crypto currencies as the latest surge in prices stokes a craze over bitcoins. (Photo by Seung-il Ryu/NurPhoto via Getty Images)
Under the legislation, Korea, which is the third largest market for cryptocurrencies in the world after the U.S. and Japan, would ban anonymous accounts and continually monitor crypto exchanges.
The proposed legislation on anonymous accounts is in line with recommendations from the Korea Blockchain Industry Association earlier this month which declared that currency operations between Korean Won and cryptocurrency-denominated accounts should only be allowed in cases where the identity of the account holder has been confirmed. 14 member exchanges agreed to that proposal.
See the full story here: https://techcrunch.com/2017/12/28/korean-government-crypto-prices/?utm_medium=TCnewsletter