Bitcoin quotes fell on Tuesday once South Korea announced new bans in crypto-trading.
As of Tuesday, Bitcoin rate amounted to $10,449 per unit at Bitfinex. The minimal intraday value was $10 141.
Other crypto-currencies fell as well. Ethereum traded at $958 at Bitfinex, having dropped below a psychological value of $1,000. Ripple fell to $1.25 at Poloinex, having lost 9% within one day.
Crypto-quotes fell after South Korea’s government announced a ban on anonymous crypto-trading. According to a new resolution, which enters into force on 30th January 2018, all accounts on local digital trading platforms shall be linked to accounts of the same name in the country’s banks, so that the users can be identified by authorities.
What’s more, according to an anonymous official, a new bank system is about to be launched. It will allow getting the whole of information on the clients of local cryptocurrency exchanges, including transactions, accounts, and some other data. It will not only enable South Korean authorities to control crypto-trading within the country, but also tax it. Rumour has it that such income tax will be equal to 24% approximately.
We’d like to remind you that South Korea is the biggest cryptocurrency market in the world, including bitcoin and ethereum.