Bitcoin losing a few bucks now as the South Korea crackdown news gains currency

Author: Eamonn Sheridan | Category: News

I posted earlier on the blockchain related news of further regulatory action out of South Korea on cryptos

To save you some clicks, the main points:

South Korean news service SBS reports:
  • South Korea preparing legislation towards shutting down exchanges
  • Justice Ministry will say virtual money brokerage is illegal, aim is to completely close exchanges
And, exchanges Bithumb and Coinone raided by police and tax office officials on Wednesday and Thursday
  • These are two of the largest in the country
  • Raids due to allegations of tax evasion
Bitcoin losing altitude now ... but you all got the heads up from me on this bearish news a good few hours ago (see links above):