Bitcoin plunges by 10% as South Korea clamps down on local exchanges

by The Next Web 11/01/2018 at 8:13
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South Korean law enforcement agencies are raiding local cryptocurrency exchanges to look into tax evasion, while the government is simultaneously considering banning the trade of virtual currencies there, reports Reuters. Unsurprisingly, the value of Bitcoin has taken a hit in light of the news: Bloomberg noted that it dropped by 10 percent to just under $13,000; at the time of writing, it’s now up a bit at $13,524 according to Coindesk. Reuters reported that Korean exchange Bithumb and Coinone’s offices were raided this week. The government could make things very difficult for investors in South Korea going forward. Justice minister… This story continues at The Next WebOr just read more coverage about: Bitcoin