Sentences with phrase «ban trading of virtual currencies»

At a press conference this morning, Justice minister Park Sang - ki said that the government is drafting a bill that would ban all trading of virtual currencies on exchanges located in South Korea.

SHANGHAI / BEIJING (Reuters)- China's largest bitcoin exchanges are awaiting clarification from the government following more media reports that Beijing is planning to ban trading of virtual currencies on domestic exchanges, but markets were largely subdued on Monday.

In January, a senior Chinese central banker said authorities should ban trading of virtual currencies as well as individuals and businesses that provide related services.

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.

Last week, the Justice Ministry said it planned to ban the trading of virtual currency in exchanges altogether, but the Economic Ministry rebutted this.

Not exact matches

Separately, a senior Chinese central banker said authorities should ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

From a halt to virtual currency trading on domestic exchanges to banning initial coin offerings, regulators have taken a proactive role in shaping the stratospheric rise of Bitcoin and its peers.

Crypto crackdown China, home to the world's biggest community of Bitcoin miners, is cracking down on cryptocurrency activity, haling trade of virtual currencies on domestic exchanges and banning initial currency offerings.

Worried over risks of speculative trading, in September South Korea banned initial coin offerings, or raising money through bitcoin or other virtual currencies.

The confidence in Bitcoin may break as a result of unexpected changes such as: unfavorable legal regulations, banning electronic legal tenders, introducing the prohibition on trading in virtual currency in specific areas, imposing high taxes, creating competitive alternative currencies, deflation, and other factors which may significantly affect the shaping of the exchange rate of Bitcoin against other currencies.

Many governments and regulators have issued sufficient risk warnings — including on liquidity risk — on virtual currency usage, or like the Government of China, banned them from trading.

Prices of cryptocurrencies climbed overnight during the Asian trading session, despite looming news reports out of China that virtual currency trading might be banned in the world's second - largest economy.

The Chinese government previously banned initial coin offerings and halted trading of virtual currencies on local exchanges for a period in 2017.

Fear of regulation has prompted a petition to the Blue House, South Korea's equivalent of the US» White House, that the government not ban virtual currency trading.

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The nation will prioritize transparency in trading of virtual currency within the boundaries of the current law, and block illegal and unfair activities, but ruled out banning trading.

The nation will prioritize transparency in trading of virtual currency within the boundaries of the current law, and block illegal and unfair activities, but it stopped short of banning trading.

Broker - based OTC trades are typically high - volume in nature, so the effect of the rumored ban would be to shut out regular Chinese bitcoin users, by making it impossible for them to buy or sell the virtual currency.

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.

China plans to ban trading of bitcoin and other virtual currencies on domestic exchanges, dealing another blow to the $ 150 billion cryptocurrency market after the country outlawed initial coin offerings last week.

Just recently the government and the bank of Indonesia revealed it may ban virtual currency trading with the local currency the rupiah.

According to Maeil Business, the Ministry of Personnel Management issued a document entitled «Virtual currency holdings and transaction - related information for civil servants» stating that officials who are found to be involved in cryptocurrency trading are «in violation of the prohibition of forbearance obligations under the civil servants» law» and are subject to disciplinary actions, especially if the banned activities occur during work hours.

«There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,» Minister of Justice, Park Sang - ki, was quoted, according to Reuters.

China has banned the use of virtual currency in the trade of real goods and services in a bid to limit its possible impact on the financial system.

«There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,» Minister of Justice, Park Sang - ki, was quoted, according to

South Korea is planning a bill to ban cryptocurrency trading as a clampdown on virtual currencies gathers pace in one of world's most exuberant markets.

Yang Haipo has stated his belief that bitcoin and other cryptocurrencies will continue to be traded throughout China despite the crackdown, emphasizing the challenges associated with attempting to enforce a ban on bitcoin due to the fluidity of virtual currencies.

«ICOs and virtual currency trading did not completely withdraw from China following the official ban... after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions,» the Financial News article said.

Despite its latest warning, the finance ministry has not implemented a total ban on virtual currency trading and has not announced any measures that will curb the adoption and trading of digital currencies in India.