Six Major South Korean Banks to Support Cryptocurrency Exchanges, Price Surge Imminent?

Ripple Leads

Despite its vast population and technical capabilities, India accounts for less than 1% of global cryptocurrency activity.

At least some responsibility for bitcoin's recent price tumble may come down to the South Korean government.

Today's decline appears to be related to yet another country cracking down on cryptocurrencies.

Budget Expectations from Blockchain and Cryptocurrency Committee

The move follows multiple warnings by regulators in South Korea that they would crack down on speculative cryptocurrency trading. "The malware employed shared code with Destover malware, which was used against Sony Pictures Entertainment in 2014 and the first WannaCry victim in February 2017". Investors will now be required to convert their virtual bank accounts to real-name bank accounts in order to continue trading. The new report from Recorded Future also associates this hacking attack with North Korean hackers.

However, on Tuesday, South Korea's presidential office said an outright ban on trading is only one option being considered to tackle crime.

The value of Bitcoin has fallen more than $800 overnight, as South Korea has taken steps to regulate the trading of cryptocurrencies. Shinhan Bank, in a similar, however inverse decision, explained that they would indeed by accepting withdrawals and deposits via Korbit.

Turkey kills at least 260 Kurdish militia in Syria
Erdogan said on Monday that the offensive had been agreed with Russian Federation but this has not been confirmed by Moscow. Mehmud said the YPG and allied militias had managed to prevent the Turkish forces from making "any real progress" in Afrin.

The new rule also appears to have a wider affect on foreign nationals who had been using cryptocurrency exchanges in South Korea through a virtual bank account.

According to Bithumb, the country's second-largest virtual currency exchange, the Bitcoin price in South Korea was down 4.35 per cent at $12,567 on Tuesday.

Further, the new regulation that comes into effect by the end of January, will prevent children under the age of 19 and foreigners as well from buying and selling Bitcoin.

Gas leak shuts London's Charring Cross station
Transport for London tweeted that "A4 Strand/Northumberland St is closed" between Trafalgar Square and Bedford Street. The spokesman continued: "It is ongoing and engineers are down at the scene trying to isolate the leak".

Its attractiveness to speculators, enhanced by a frothy market and "fear of missing out" on the next big thing, has led many to take advantage of new and seasoned investors alike.

Bitcoin's price reached a high level of around $20,000 in December, but last week it fell under $10,000.

Moving FIAT to the web in South Korea to trade for cryptocurrency will require that the bank account have a real name on it - no more anonymous accounts. China also escalated its moves against cryptocurrency exchanges last week.

Jailed German nurse charged with 97 more killings
Koziolek believed Hoegel "in all cases at least accepted the death of the patients as a result of the effect of the drugs". They added that authorities are already pursuing criminal charges against various hospital staff and administrators.

The new regulations against cryptocurrencies were first introduced at the end of past year by Hong Nam-ki, minister of the Office for Government Policy Coordination.

Related news:

Hot News

isis-killer-beheading-video-story-top Dennis Smith Jr. Selected To Rising Stars Challenge
Jan 26, 2018 - 02:09
He's shooting 43.8 percent from 3-point range, sixth in the National Basketball Association and second among all global players. Now in his third season, Jokic was no longer eligible for the Rising Stars Challenge.

isis-killer-beheading-video-story-top Arizona high speed chase ends in terrifying crash
Jan 26, 2018 - 02:07
Taebel, who has a California driver's license, has an extensive criminal record in several states, authorities said. At about 10:50 a.m., the suspect vehicle exited the freeway and headed south on Rural Road toward the ASU campus.

isis-killer-beheading-video-story-top The NBA gives an assist to sports betting push
Jan 26, 2018 - 02:06
No one knows how much is wagered illegally on sports each year, with estimates reaching into the hundreds of billions. NY is one of several states exploring the idea of legalizing gambling.

isis-killer-beheading-video-story-top Sky reports flying half-year earnings and hikes dividend
Jan 26, 2018 - 01:23
The ultimate aim was for all countries to watch Sky programming through a single over-the-top (OTT) internet service, he added. Sky is waiting for United Kingdom approval to be bought by Fox, which in turn plans to sell the company to Walt Disney .

isis-killer-beheading-video-story-top US Defense Secretary Given Insight on Counter-terrorism during Visit to Indonesia
Jan 26, 2018 - 01:11
The Obama administration lifted some restrictions on Kopassus that year, though training with US counterparts is still forbidden. Ryacudu said the United Nations should increase pressure on Pyongyang so the regime is compliant with worldwide law.

isis-killer-beheading-video-story-top Rafael Nadal faces Marin Cilic
Jan 25, 2018 - 01:52
On top of that, Edmund is beginning to see improvements in his serve, another previous area of criticism given his 6ft2 height. There's no point for me to say what I did wrong because I can sit here and talk about it, but it's all about him right now.

isis-killer-beheading-video-story-top God of War Release Date Confirmed
Jan 25, 2018 - 01:51
Previous God of War games have pitted the demigod protagonist Kratos against the mythical creatures and gods of Ancient Greece. To make things even better, there is a limited Collector's Edition , Stone Mason and a Digital Deluxe Edition of the game.

isis-killer-beheading-video-story-top In security update, Apple backports Meltdown fix to older macOS versions
Jan 25, 2018 - 01:46
Many users have criticized Apple for releasing Meltdown and Spectre patches only for recent OS versions. It fixes an issue where processing maliciously crafted Web content may lead to arbitrary code execution.

isis-killer-beheading-video-story-top Five Players Manchester United Should Look At Before The Summer Transfer Window
Jan 25, 2018 - 01:37
Manchester City were favourites to sign the 29-year-old this month, until Pep Guardiola decided against a reunion. With these kind of things, as long as it is not over the line, you can not say that it will happen.

isis-killer-beheading-video-story-top Trump Tariff Clouds Future for Solar Companies
Jan 25, 2018 - 01:33
Trump has been eager to enact a tariff of any kind, Johnson said, and doing so against the solar industry became convenient. The problem for the USA solar industry is that it relies on cheaper imported panels for 80 percent of its supply.

isis-killer-beheading-video-story-top Snapchat will from today let you share Stories on Facebook, Twitter & elsewhere
Jan 25, 2018 - 01:26
Snapchat will enable people to share and view its content outside of its app, Snapchat's parent company Snap announced on Tuesday. What should be stressed about the new feature is that is that only certain Snapchat stories are shareable outside of the app.

isis-killer-beheading-video-story-top Full implementation of India, Asean FTA to boost trade
Jan 24, 2018 - 11:35
On Thursday, the Asean leaders will first be hosted by Indian President Ram Nath Kovind to a luncheon banquet. Prime Minister Narendra Modi will hold bilateral meetings with nine of the visiting ASEAN leaders.

isis-killer-beheading-video-story-top Tesla in autopilot mode crashes into fire truck in California
Jan 24, 2018 - 11:34
The NTSB has previously said Tesla's Autopilot system was a contributing factor in a 2016 fatal crash in Florida. The driver claimed that the vehicle was in its semi-autonomous Autopilot mode when the accident occurred.

isis-killer-beheading-video-story-top Trans-Pacific deal agreed without US
Jan 24, 2018 - 11:33
The TPP is made up of Australia, Brunei, Canada, Chile, Japan, Maylasia, Mexico, New Zealand, Peru, Singapore and Vietnam. Canada, the second-largest economy among the TPP partners, was widely considered the main holdout in the negotiations.

isis-killer-beheading-video-story-top Strong quake sparks panic in Indonesia
Jan 24, 2018 - 11:33
The epicentre was off the coast, about 130km south-west of Jakarta , a city of more than 10 million people. However, no tsunami warning was issued and there were no immediate reports of casualties or damage.