Sentences with phrase «ban local cryptocurrency»

Bitcoin slumped to its lowest level since Christmas day as South Korea's justice minister reiterated his proposal to ban local cryptocurrency exchanges, fueling concern a state crackdown will erode demand for digital coins in one of the world's biggest markets.

Bitcoin slumped as South Korea's justice minister reiterated his proposal to ban local cryptocurrency exchanges, fueling concern that a government crackdown will erode one of the world's biggest sources of demand for digital currencies.

Thanks to a surge in optimism surrounding the cryptocurrency, the price of bitcoin shot as high as $ 5,855 early Friday, up 96 % since news that China was banning local cryptocurrency exchanges broke mid-September.

Not exact matches

DUBAI, April 28 - Iran has developed an experimental local cryptocurrency, a government minister said on Saturday, days after the country's central bank banned trading in digital currencies including bitcoin.

Even if Korean lawmakers push forward with an exchange ban, local investors are likely to find ways to keep buying cryptocurrencies, said Mike Kayamori, head of Tokyo - based exchange Quoine, which counts Koreans among its customers.

The issuance of new cryptocurrencies, which were banned in South Korea six months ago, has returned to the country via overseas listings for local trading.

DUBAI (Reuters)- Iran has developed an experimental local cryptocurrency, a government minister said on Saturday, days after the country's central bank banned trading in digital currencies including bitcoin.

Seoul To Regulate After «Sufficient Consultation» After the South Korean justice minister caused «confusion and anger» last week by saying the government would ban cryptocurrency exchanges, local news media report, the latest statements from Seoul indicate a significant U-turn.

Iran has developed an experimental local cryptocurrency, a government minister said on Saturday, days after the country's central bank banned trading in digital currencies including bitcoin.

South Korea's government said on Thursday it plans to ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation's police and tax authorities raided local exchanges on alleged tax evasion.

Azari - Jahromi then noted that Iran's bitcoin ban does not mean the country is completely against virtual currencies, and pointed out that the Central Bank's ban does not cover local cryptocurrencies.

While China strictly banned initial coin offerings (ICOs) and cryptocurrency exchanges platforms and Macau's monetary regulator barred local firms from providing ICO - related financial services, Hong Kong has emerged as something as an ICO hub.

China's recent ban on initial coin offering (ICO), a cross-between crowdfunding and initial public offering, has forced local cryptocurrency exchanges into stricter self - scrutiny about their supervision mechanisms.

Both businesses and individual investors have regained confidence in the local sector, as a ban on cryptocurrency trading is highly unlikely as of now.

Emerging Markets After the Chinese government banned local bitcoin exchanges from operating in the country some industrious people have begun going abroad to buy the cryptocurrency and reselling it in China for a premium...

Earlier this month, China issued a blanket ban on fundraising methods involving token sales, or initial coin offerings (ICOs), and local cryptocurrency exchanges have indicated they will cease domestic trading following the ban.

In 2014, Bolivia became the first country in South America to ban digital currencies like bitcoin, fearing that cryptocurrencies will diminish the power of the local currency.

But in September, its central bank banned initial coin offerings (ICOs) and stopped cryptocurrency exchanges from serving local customers.

While the cash - reliant country is facing stern regulations, participants of the local cryptocurrency industry do not believe India can «ban» cryptocurrencies through regulations in the same way China has.

The Bank of Thailand banned the local banks which invested or traded cryptocurrencies.

On Dec. 28, the South Korean government announced its plans to ban the use of anonymous virtual accounts for cryptocurrency trading in an effort to «curb virtual currency speculation», local news agency Yonhap reported.

Despite sweeping concerns of a ban on domestic cryptocurrency exchanges, proposed by Korea's justice ministry, the Korean government quashed such fears today while confirming wider regulatory moves for the local cryptocurrency ecosystem.

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.

China is also said to be planning a ban on access to foreign cryptocurrency exchanges from within its borders, according to a Bloomberg report from earlier this week; the country has already banned local exchanges.

Seoul To Regulate After «Sufficient Consultation» After the South Korean justice minister caused «confusion and anger» last week by saying the government would ban cryptocurrency exchanges, local news media report, the latest statements from Seoul indicate a significant U-turn.

After the South Korean justice minister caused «confusion and anger» last week by saying the government would ban cryptocurrency exchanges, local news media report, the latest statements from Seoul indicate a significant U-turn.

China's central bank has revealed plans to escalate its ban on cryptocurrency trading and initial coin offerings (ICOs) by prohibiting local access to international digital currency platforms.

On March 21, local cryptocurrency - focused media outlets reported that the NHN funded OKCoin — formerly the biggest cryptocurrency exchange in China prior to the country's cryptocurrency trading ban in 2017 — was to launch OKCoin Korea.

In September, the Chinese government, People's Bank of China (PBoC), and local financial authorities imposed a nationwide ban on cryptocurrency trading platforms, shutting down some of the largest cryptocurrency trading platforms including OKCoin, Huobi, and BTCC.

Blockstream Chief Strategy Officer Samson Mow went so far to say that even if China does ban bitcoin and its local exchanges, it will not work on Bitcoin and the cryptocurrency will continue to sustain its upward trend.

In a press conference, the South Korean Ministry of Strategy and Finance told local reporters that it had first heard of the Ministry of Justice's cryptocurrency trading ban through media reports.

After officially refuting the Justice Ministry's cryptocurrency trading ban proposal, the South Korean government has allocated significant resources to regulate the local cryptocurrency market and provide a more stable and robust infrastructure to investors within the market.

The comment by Kim Dong - yeon on Wednesday comes as traders at home and around the world have been spooked by conflicting comments from government officials in South Korea, a major hub for cryptocurrency trade, that Seoul was planning to ban local digital coin exchanges.

Starting this week, to counterbalance the mishandling of the false cryptocurrency trading ban by the Justice Ministry, the South Korean government and financial authorities have begun to regulate the local cryptocurrency market and businesses strictly.

Earlier this month, almost immediately after unverified reports about cryptocurrency trading ban in India were released, local cryptocurrency exchanges Zebpay, Coinsecure, and Unocoin, which have over a million users on their platforms, reaffirmed that the government's stance towards the local cryptocurrency exchange market has not changed, and it remains neutral.

This month, the bank revealed plans to escalate its ban on cryptocurrency trading and initial coin offerings (ICOs) by prohibiting local access to international digital currency platforms.

India still does not have any regulations over the trading of cryptocurrencies and they are not banned by law, but the government has taken a hard stance, and the new move by local banks was prompted by a statement by Indian Finance Minister Arun Jaitley to curb digital currency trading.

Mass confusion after reports broke that South Korea is planning to ban cryptocurrency trade in the country, local reporters call fake news, say «nothing is finalized»

However, South Korea - based Cointelegraph contributor Joseph Young reported on his personal Twitter today, citing local sources, that the South Korean Ministry of Strategy and Finance does not agree with the proposal from the Ministry of Justice to ban cryptocurrency trade in the country.

As reported by the local media, the cryptocurrency trading ban proposal does not represent the government's belief.

China sent shockwaves — and more than a little panic — through the cryptocurrency community in September when they instituted a complete ban on ICOs (Initial Coin Offerings) as well as the trading of ICO tokens and cryptocurrencies on local exchanges.

The Cointelegraph noted that Justice minister Park Sang - ki, who said earlier this week that the government is working on a bill to ban Bitcoin trading on domestic exchanges, is at risk of losing his job, as more than 60,000 citizens signed a petition voicing their support of his removal; minister Park is said to have acted independently and without having consulted the local task force in charge of regulating cryptocurrencies, or even the Ministry of Strategy and Finance (also a part of the task force that's currently being set up).

Despite the local ban, many Korean cryptocurrency users are still participating in international ICOs.

The most popular cryptocurrency by market capitalization shot down in value to its lowest level since Christmas Day after South Korea's justice minister restated his plan to ban local...

After the ban on initial coin offerings and the regulatory moves to shut down local coin exchanges, the market on cryptocurrency in China hit a stark decline.