BB warns against cryptocurrencies _ The Daily Star currency bitcoin

BB warns against cryptocurrencies _ The Daily Star currency bitcoin

Meanwhile, bitcoin, the most well-known cryptocurrency, fell more than 11 percent after south korea yesterday said it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them, according to an AFP report.

The announcement came as the hyper-wired south emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions — about 10 times the country’s share of the world economy.

The new rules announced by seoul include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual currency exchanges if necessary.

“officials share the view that virtual currency trading is overheating irrationally…And we can no longer overlook this abnormal speculative situation,” the government said in a statement.Virtual currency bitcoin

All anonymous accounts currently in use will be closed next month, it added.

The announcement came two weeks after seoul banned its financial firms from dealing in virtual currencies, most notably bitcoin, as their prices soared, sparking concerns of a bubble largely fuelled by retail speculators. Also, the israel securities authority said it is moving to ban trading in cryptocurrency-based companies on the tel aviv market until transactions involving digital coins are legally regulated.

The head of the authority, shmuel hauser, said on monday that the stockmarket regulator would discuss the proposal at a meeting next week.

So long there is no regulatory framework, we will make it that companies whose trade is primarily based on digital coins won’t be able to trade at the (tel aviv) stock market, he said.Virtual currency bitcoin

In addition, the activity of a company that already exists and most of its activity is through bitcoin will be suspended, he said.

Meanwhile, bitcoin, the most well-known cryptocurrency, fell more than 11 percent after south korea yesterday said it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them, according to an AFP report.

The announcement came as the hyper-wired south emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions — about 10 times the country’s share of the world economy.

The new rules announced by seoul include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual currency exchanges if necessary.

“officials share the view that virtual currency trading is overheating irrationally…And we can no longer overlook this abnormal speculative situation,” the government said in a statement.Virtual currency bitcoin

All anonymous accounts currently in use will be closed next month, it added.

The announcement came two weeks after seoul banned its financial firms from dealing in virtual currencies, most notably bitcoin, as their prices soared, sparking concerns of a bubble largely fuelled by retail speculators. Also, the israel securities authority said it is moving to ban trading in cryptocurrency-based companies on the tel aviv market until transactions involving digital coins are legally regulated.

The head of the authority, shmuel hauser, said on monday that the stockmarket regulator would discuss the proposal at a meeting next week.

So long there is no regulatory framework, we will make it that companies whose trade is primarily based on digital coins won’t be able to trade at the (tel aviv) stock market, he said.Virtual currency bitcoin

In addition, the activity of a company that already exists and most of its activity is through bitcoin will be suspended, he said.

Meanwhile, bitcoin, the most well-known cryptocurrency, fell more than 11 percent after south korea yesterday said it would ban anonymous trading of virtual currencies and crack down on money laundering activities using them, according to an AFP report.

The announcement came as the hyper-wired south emerged as a hotbed for cryptocurrency trading, accounting for some 20 percent of global bitcoin transactions — about 10 times the country’s share of the world economy.

The new rules announced by seoul include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual currency exchanges if necessary.

“officials share the view that virtual currency trading is overheating irrationally…And we can no longer overlook this abnormal speculative situation,” the government said in a statement.Virtual currency bitcoin

All anonymous accounts currently in use will be closed next month, it added.

The announcement came two weeks after seoul banned its financial firms from dealing in virtual currencies, most notably bitcoin, as their prices soared, sparking concerns of a bubble largely fuelled by retail speculators. Also, the israel securities authority said it is moving to ban trading in cryptocurrency-based companies on the tel aviv market until transactions involving digital coins are legally regulated.

The head of the authority, shmuel hauser, said on monday that the stockmarket regulator would discuss the proposal at a meeting next week.

So long there is no regulatory framework, we will make it that companies whose trade is primarily based on digital coins won’t be able to trade at the (tel aviv) stock market, he said.Virtual currency bitcoin

In addition, the activity of a company that already exists and most of its activity is through bitcoin will be suspended, he said.