S Korea bans its banks from dealing in bitcoin
Country is a hotbed for cryptocurrency trading, accounting for 20% of global bitcoin transactions
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Seoul
SOUTH Korea on Wednesday banned its financial institutions from dealing in virtual currencies such as bitcoin, as the cryptocurrency soars in a bubble fuelled by retail speculators, many of them from the country.
The hyper-wired country has emerged as a hotbed for cryptocurrency trading, accounting for some 20 per cent of global bitcoin transactions - about 10 times its share of the world economy.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
