South Korea’s Bitcoin Ban and possible effects

December 13, 2017 | Author: | Posted in Bitcoin

South Korea’s Bitcoin Ban and possible effects

Financial Services Commission of Korea issued a directive banning securities firms from providing service on bitcoin future transactions which is considered as an influential development that would cause a sharp price fall.

Will South Korea’s bitcoin ban lead to a price fall ?

Bitcoin is widely used in South Korea with a popularity growing day by day. According to Bitcoin transaction records, 21% of all global BTC volume are executed in Korean Won.

The recent Bitcoin ban is likely to lead to a downward movement but for now nobody can estimate the scope of the possible price fall.


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