S. Korea considers trading ban and digital currencies tumble

S. Korea considers trading ban and digital currencies tumble

January 11, 2018(AP)(STL.News)-The value of numerous forms of digital currency is tumbling after South Korea, a hotbed for currencies like bitcoin, said it was weighing a trading ban.

The country’s justice minister said Thursday that South Korea plans to ban crypto currency trading, but the presidential office said later that a ban is under review, though no policy changes have been made.

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The justice ministry has taken the sternest stance on digital currencies among the nation’s ministries, though other South Korean agencies oppose an outright ban.

Bitcoin slid 8 percent, to $13,698, according to Coindesk. Etherium, another popular digital currency, fell 2.1 percent, to $1,222.

By Associated Press, published on STL.NEWS by St. Louis Media, LLC (TM)

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