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A TOP official from South Korea says the government is preparing a bill to ban the trading of cryptocurrencies on exchanges, stepping up its efforts to curb speculation.
SEOUL: South Korea’s largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation said on Thursday.
SEOUL: South Korean financial authorities said they are inspecting six local banks that offer virtual currency accounts to institutions, amid concerns the increasing use of such assets could lead to a surge in crime.
KIEV (Reuters) - Kidnappers in Ukraine have released an employee at a United Kingdom-registered cryptocurrency exchange after getting more than $1 million in bitcoins as ransom, an adviser to the Ukrainian interior minister told Reuters on Friday.
The finance ministry on Friday cautioned investors about the risks of trading in cryptocurrencies such as bitcoin, saying digital currency investments are like "Ponzi schemes."
Hackers have stolen millions, lawmakers are pushing for new taxes and regulations, and a leading financial official has called them a "Ponzi scheme".
Seventeen months ago, a former Wall Street investment banker who specialised in distressed assets took to Twitter to announce he had bought a cryptocurrency for US$0.50 (RM2.03) per coin.
Major cryptocurrency exchange Coinbase said on Wednesday it will investigate accusations of insider trading, following a sharp increase in the price of bitcoin cash hours before it announced support for the virtual currency.