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-gamblingThey punish for anyone who trades there, this is bad for bitcoin same like china time forbids bitcoin in the country.
Bitcoin prices in South Korea fell 21% to 18.3 million won or $17,064.53. In addition, bitcoin prices also dropped 10% in Luxembourg to $13,199, having earlier dropped to the lowest level of $13,120.
You can see it yesterday, prices are soaring down significantly. Maybe, it will not be long. Today the bitcoin starts creeping up again.