South Korea’s government said on Thursday it will impose additional measures to regulate speculation in cryptocurrency trading.
According to the statement, the steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed, a measure recommended by the justice ministry.
The government said that virtual coins can not play a role as actual currency and could result in high losses due to excessive volatility. It also noted that trading prices of most cryptocurrencies were much higher on South Korean exchanges than they were on exchanges in other countries.
Recently, we have reported that the government of South Korea announced that it would prohibit foreigners and minors from dealing with cryptocurrency trading or opening accounts in local banks