Bitcoin latest: South Korea to ban anonymous bank accounts

Bitcoin latest: South Korea to ban anonymous bank accounts Everyone from housewives to college students and office workers have rushed to trade the market despite warnings from global policymakers about investing in an asset that lacks broad regulatory oversight The bitcoin price in South Korea extended loss following the latest regulatory announcement, down 3

34 percent at $12,699 as of 0409 GMT, according to Bithumb, the countrys second-largest virtual currency exchange Bitcoin slumped nearly 20 percent last week to a four-week low on the Luxembourg-based Bitstamp exchange, pressured by worries over a possible ban on trading the virtual asset in South Korean exchanges In Tuesday afternoon trade, it was up 54 percent at $10,925 Policy makers around the world are calling for tougher, coordinated regulation of cryptocurrency trading

South Koreas chief financial regulator last week said the government may consider shutting down domestic virtual currency exchanges South Koreas Presidential office has clarified that an outright ban on trading on the virtual currency exchanges is only one of the steps being considered, and not a measure that has been finalised The government is still discussing whether an outright ban is needed or not, internally, a government official who declined to be named said after Tuesdays briefing Over the past month, government statements have underscored differences between the Justice Ministry, which has pushed for a more hardline approach, and regulators who have shown a reluctance to enforce an outright ban

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