S. Korea considers trading ban and digital currencies tumble

S. Korea considers trading ban and digital currencies tumble

S. Korea considers trading ban and digital currencies tumble
FILE - In this Friday, Dec. 8, 2017, file photo, a man uses a Bitcoin ATM in Hong Kong. On Thursday, Jan. 11, 2018, the value of numerous forms of digital currency tumbled after South Korea, a hotbed for currencies like bitcoin, said it was weighing a trading ban. (AP Photo/Kin Cheung, File)

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.

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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