South Korea ponders virtual money exchange shutdown. South Korea Information Systems considering shutting drop all native virtual currency exchanges, the country’s finance regulator chief told Thursday.
Read MoreHe too stressed which virtual currencies weren’t financial services or products.
Bitcoin prices took a sharp downturn on Wednesday because of fears of a crackdown from South Korea, falling below $10,000, half the value of its peak a 30 days ago.
Last month, the South Korea’s justice minister declared which the country was planning to block virtual currency trading, however other agencies told none has been finalized.
Fear of regulation has prompted a petition to the Blue House, South Korea’s equivalent of the US’ White House, which the Gov not block virtual currency trading.
U.S. CFTC sues 3 virtual currency operators for fraud
The lawsuits, filed with the Commodity Futures Trading Commission in a fresh York territory court, come amid heightened fears globally over the dangers which bitcoin & other virtual currencies probably pose to Businessmen & the universal financial system.
The CFTC found guilty fresh York inhabitant Patrick McDonnell & his Corporation CabbageTech with stealing money from customers which he had solicited for providing virtual-currency trading & other services.
McDonnell & Dean can not be immediately reached for comment on Friday via their Corporation websites, which appeared to have been taken down.
Governments around the world are debating the method to address dangers posed with virtual currencies.
The CFTC & Securities & interchange Commission this 30 days warned Businessmen about dangers posed with virtual currency operators & have both been increasing their jurisdiction over the cryptocurrency market, which has no overriding Fed regulator.
PBOC formal tells China’s centralized virtual currency trade needs to end: source
As it stated in National & native authorities ought block venues which provide centralized trading of virtual currencies, of which bitcoin Information Systems the biggest, Pan said.
They too necessity to block individuals or institutions which provide market-making activities, guarantees, or settlement services for centralized trading of the currencies, like on-line “wallet” service providers.
Authorities ought too block domestic & foreign websites & lock cell cell smartphone applications which provide centralized virtual currency trading services to Chinese users, & sanction platforms which provide virtual currency payment services, Pan said.
He too called for native authorities to investigate services which help people move funds overseas.
Bloomberg announced on Monday which Chinese authorities outline to block domestic access to Chinese & offshore cryptocurrency platforms which let centralized trading.
collected by :Donald Luther