China and South Korea Continue Harsh Bitcoin Scrutiny

china and south korea continue harsh bitcoin scrutiny

Cryptocurrencies continue to take a beating in China and South Korea – two major markets – as preventative legislation is ramped up to combat what they see as tax evasion and excessive speculation.
China has today announced the banning of centralised trading of Bitcoin and other cryptocurrencies amid an ongoing crackdown, targeting websites and apps that offer trading services. This follows earlier steps such as the banning of ICOs – a form of fundraising whereby new cryptocurrency startups sell their coins – and plans to implement power usage restrictions to mining operations. Since it is now …
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