Bitcoin Bitcoin and Ethereum tumble after renewed fears of regulatory crackdown Bitcoin hits a four-week low before rebounding on Tuesday as South Korean statements send cryptocurrency markets yo-yoing South Korea’s finance minister Kim Dong-yeon said banning trading in digital currencies is ‘a live option’. Photograph: Anadolu Agency/Getty ImagesThe price of bitcoin was sent plummeting 18% as it and other cryptocurrencies yo-yo in value over fears of a wider trading crackdown spurred by renewed potential of South Korean regulatory action. Kim said: “There are no disagreements over regulating speculation,” such as using real-name accounts and levying taxes on cryptocurrency trading. Show Hide Bitcoin is the first, and the biggest, "cryptocurrency" – a decentralised tradable digital asset. Meanwhile, Chinese regulators have banned initial coin offerings (ICOs), shut down local cryptocurrency trading exchanges and limited bitcoin mining.

Source: The Guardian January 16, 2018 13:56 UTC