There are great concerns regarding virtual currencies and [the] justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges, justice minister Park Sang-ki said.
[1]News of the ban follows the raiding of local cryptocurrency exchanges by police and tax authorities over alleged tax evasion, as one of the key nations driving the demand for bitcoin and other virtual currencies attempts a clampdown.
[2]
The value of bitcoin plunged 13.5% in the early hours of Thursday after news hit that South Korea is planning to ban cryptocurrency trading.
[3]
Do you think the price will lose more?
Source of news :
https://www.theguardian.com/technology/2018/jan/11/bitcoin-drops-value-south-korea-trading-ban-cryptocurrencies-tax-gamblingIm hearing that this is just being proposed by in person in the South Korean government and will not likely happen. But if I had coins on a South Korean exchange, I would consider taking those funds out. I think Binance is in Hong Kong so it should be ok. I dont think these governments realize the impact to regular people that banning cryptocurrencies would have.