[KOREAN ECONOMIC NEWS] Good morning, everyone. I’m Byeongyeon Yoo staff of Kamaindia Pvt. Ltd.
Here I have an important Korean economic news to share with you which is as undermentioned.
South Korean regulators are mulling a ban on cryptocurrency trading, sparking outrage across the nation.
The justice minister, Park Sang-ki, said this week that the government was preparing legislation to halt the trading of Bitcoin, Monero and other virtual money.
Trading is a popular pastime in South Korea, the world’s most wired country. Its young, tech-savvy populace has seized on virtual currency as a way to earn cash amid an economy that offers dwindling job prospects for millennials, despite its relative wealth as a nation. With Bitcoin pricing exploding over the last few months, many people have earned quite a bit. About a third of the 941 office workers surveyed in December by Saramin, a South Korea-based job portal, have traded virtual currency; out of those, more than 80% made money frm it, and about 20% made a whopping average return of 425% on their investment, according to the survey.
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