Economic news

South Korea intends to shut crypto-exchanges

The authorities of South Korea will consider various measures to limit speculation in the market of crypto-currencies, including a ban on opening anonymous cryptocurrency accounts and the closure of crypto-exchange exchanges, Bloomberg reported.

In particular, the authorities will require disclosure of the real name when carrying out transactions with virtual currencies. In addition, banks will be banned from creating virtual accounts to work on crypto-exchange exchanges, as well as payment and settlement services for non-professional exchanges.

Bitcoin dropped by 11% to below $14,000 after report. January futures fell 5.8%, to $13,835 on the CME Group Inc., extending their weekly decline to 9.9%.

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