Russia is also considering implementing
some restrictions on cryptocurrency trading.
For example, China and South Korea have recently instituted
restrictions on cryptocurrency trading.
The timing of the launch comes at a time when the nation's government has issued
restrictions on cryptocurrency trading activities and is mulling a harsher crackdown on exchange - based trading.
Not exact matches
Chinese
cryptocurrency trading is reportedly flourishing
on social networks, messenger apps and other P2P markets, despite heavy
restrictions on exchanges.
Moving
on to discuss China's recent
restrictions of
cryptocurrency trading, Lubin, said that he sees the move as a «pause» and not a ban.
As politicians from Washington to Seoul consider imposing new sanctions
on North Korea, Kim Jong Un's regime appears to be stepping up efforts to secure bitcoin and other
cryptocurrencies that could be used to avoid additional
trade restrictions.
Such a move, if true, may further tighten the regulation in China regarding
cryptocurrency activities, as by aiming at major exchanges, it may put
restrictions on how bitcoin and ether can be
traded for traditional currency in the country.
Yeon's positive comments about Blockchain and
cryptocurrencies come after a period of harsher
restrictions on crypto investing and exchanges in South Korea, with the country's ban
on anonymous
trading of
cryptocurrencies and a false scare of an overall crypto ban making the markets dip.
Cryptocurrency trading is one of several ways in which citizens have sought to evade these
restrictions, as these assets have no respect for borders and can be exchanged for a number of foreign fiat currencies
on offshore platforms.
Exchanges enjoyed a lively and competitive market for most of last year, before the South Korean government began threatening
restrictions and even an outright ban
on cryptocurrency trading beginning in December.
From blanket bans to
restrictions on anonymous
trading, legislators are putting the
cryptocurrency market under stricter scrutiny than in times past.