Since the time South Korea impose a ban on the trading of cryptocurrency bitcoin is not getting stable. It’s been more than two weeks that the value of bitcoin is fluctuating, According to the rule of South Korea now bitcoin trading is not going to happen with the anonymous bank accounts.
This rule will start getting impose from 30th of January 2018 all around the country. It will help South Korea in protecting their laws and regulations, no foreigners or kids under 19 are going to start the trading the bitcoin without their bank accounts or identity cards.
In India government is also freezing top bank accounts of bitcoin which is making the value of bitcoin lowest right now. On Tuesday it has been seen that the value of bitcoin dropped to 2.7% and stopped at $10,000. Investors and traders were expecting bitcoin to reach the $11,000 but unfortunately ban in various countries over virtual currency is making bitcoin value down.
It’s a shock to investors that from $19,000 bitcoin quickly plunged to $10,000 and they still are suffering from the great loss. This month bitcoin showed continuous deadline to the traders. The reserve bank of India is keeping an eye on accounts who are dealing with bitcoin efficiently.
The actions which will be taken against such accounts will be similar to the money laundering one. According to the investors, banks are the reason why bitcoin is getting down and they are trying to drown the whole industry of cryptocurrency. Barclays issued a statement in which they made clear that they are not going to accept any kind of bank transaction related to cryptocurrency.
South Korea is trying it’s best to save the people of their country from the hackers and scams by keeping a strict check on the accounts and on the identity of traders.
Cryptocurrency may come back once again in the market but this time the rules are going to be super strict and few people with all the relevant documents will be able to deal with it.