bitcoin
Bitcoin (BTC) $ 84,210.56
ethereum
Ethereum (ETH) $ 1,914.88
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.36
bnb
BNB (BNB) $ 589.52
solana
Solana (SOL) $ 133.74
usd-coin
USDC (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.740016
dogecoin
Dogecoin (DOGE) $ 0.172205
tron
TRON (TRX) $ 0.22241
staked-ether
Lido Staked Ether (STETH) $ 1,910.71
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,003.51
pi-network
Pi Network (PI) $ 1.51
leo-token
LEO Token (LEO) $ 9.78
chainlink
Chainlink (LINK) $ 13.73
stellar
Stellar (XLM) $ 0.27752
wrapped-steth
Wrapped stETH (WSTETH) $ 2,290.30
usds
USDS (USDS) $ 1.00
hedera-hashgraph
Hedera (HBAR) $ 0.195104
avalanche-2
Avalanche (AVAX) $ 18.57
shiba-inu
Shiba Inu (SHIB) $ 0.000013
sui
Sui (SUI) $ 2.33
the-open-network
Toncoin (TON) $ 2.92
litecoin
Litecoin (LTC) $ 91.65
bitcoin-cash
Bitcoin Cash (BCH) $ 332.44
polkadot
Polkadot (DOT) $ 4.20
mantra-dao
MANTRA (OM) $ 6.26
ethena-usde
Ethena USDe (USDE) $ 1.00
weth
WETH (WETH) $ 1,915.23
bitget-token
Bitget Token (BGB) $ 4.39
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 13.87
whitebit
WhiteBIT Coin (WBT) $ 28.46
wrapped-eeth
Wrapped eETH (WEETH) $ 2,034.41
monero
Monero (XMR) $ 210.07
uniswap
Uniswap (UNI) $ 6.05
susds
sUSDS (SUSDS) $ 1.04
dai
Dai (DAI) $ 0.999977
aptos
Aptos (APT) $ 5.22
near
NEAR Protocol (NEAR) $ 2.62
pepe
Pepe (PEPE) $ 0.000007
okb
OKB (OKB) $ 46.33
ondo-finance
Ondo (ONDO) $ 0.870647
internet-computer
Internet Computer (ICP) $ 5.68
ethereum-classic
Ethereum Classic (ETC) $ 18.06
aave
Aave (AAVE) $ 174.25
gatechain-token
Gate (GT) $ 21.21
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,271.58
mantle
Mantle (MNT) $ 0.733073
official-trump
Official Trump (TRUMP) $ 12.01
crypto-com-chain
Cronos (CRO) $ 0.082832
tokenize-xchange
Tokenize Xchange (TKX) $ 28.06
bittensor
Bittensor (TAO) $ 258.55
vechain
VeChain (VET) $ 0.024785
first-digital-usd
First Digital USD (FDUSD) $ 0.999274
kaspa
Kaspa (KAS) $ 0.079042
celestia
Celestia (TIA) $ 3.53
cosmos
Cosmos Hub (ATOM) $ 4.30
filecoin
Filecoin (FIL) $ 2.88
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.2148
ethena
Ethena (ENA) $ 0.351307
fasttoken
Fasttoken (FTN) $ 4.00
algorand
Algorand (ALGO) $ 0.199823
sonic-3
Sonic (prev. FTM) (S) $ 0.527489
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 84,215.56
render-token
Render (RENDER) $ 3.18
arbitrum
Arbitrum (ARB) $ 0.359953
story-2
Story (IP) $ 5.94
arbitrum-bridged-usdt-arbitrum
Arbitrum Bridged USDT (Arbitrum) (USDT) $ 1.00
jupiter-exchange-solana
Jupiter (JUP) $ 0.529746
optimism
Optimism (OP) $ 0.869619
kucoin-shares
KuCoin (KCS) $ 11.11
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.518762
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 83,982.50
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
binance-peg-weth
Binance-Peg WETH (WETH) $ 1,915.23
quant-network
Quant (QNT) $ 76.00
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 1,988.32
movement
Movement (MOVE) $ 0.453692
nexo
NEXO (NEXO) $ 1.08
xdce-crowd-sale
XDC Network (XDC) $ 0.067905
maker
Maker (MKR) $ 1,174.68
dexe
DeXe (DEXE) $ 17.31
usual-usd
Usual USD (USD0) $ 0.997832
injective-protocol
Injective (INJ) $ 9.99
blockstack
Stacks (STX) $ 0.643736
immutable-x
Immutable (IMX) $ 0.552664
worldcoin-wld
Worldcoin (WLD) $ 0.874337
binance-staked-sol
Binance Staked SOL (BNSOL) $ 139.09
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,149.80
sei-network
Sei (SEI) $ 0.204599
flare-networks
Flare (FLR) $ 0.015043
the-graph
The Graph (GRT) $ 0.094492
theta-token
Theta Network (THETA) $ 0.893815
lido-dao
Lido DAO (LDO) $ 0.958225
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00
bonk
Bonk (BONK) $ 0.000011
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 83,611.40
eos
EOS (EOS) $ 0.503132
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,028.93

South Korea Signals Crypto Trading Ban, Bitcoin Prices Plummet

Bitcoin and other cryptocurrencies faced a sharp selloff as South Korea’s government signaled a potential ban on virtual currency trading. The move, part of a broader crackdown on cryptocurrency investments, sent shockwaves through global markets and reignited debates over regulatory control.

South Korea Takes a Hard Line on Crypto Trading

In a press conference, Justice Minister Park Sang-ki announced that his ministry was preparing a bill to ban cryptocurrency trading through local exchanges.

“There are great concerns regarding virtual currencies, and the Justice Ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Park said.

The proposal comes after extensive discussions with the finance ministry and financial regulators, highlighting the government’s growing concern over speculative trading and potential financial instability.

If the bill moves forward, it will require approval from the National Assembly, where a majority vote among 297 members would determine its fate. This legislative process could take months or even years to complete.

Bitcoin Prices Take a Hit

The announcement triggered an immediate selloff in the crypto market, particularly in South Korea, which is a major hub for digital currency trading.

  • The local price of Bitcoin plunged 21%, falling to 18.3 million won ($21,700) in midday trading.
  • On international exchanges, Bitcoin dropped more than 10%, trading at $13,199 on Luxembourg-based Bitstamp after briefly hitting a low of $13,120.
  • Despite the decline, Bitcoin in South Korea still trades at a 30% premium compared to other global markets.

The sudden drop reflects the uncertainty surrounding cryptocurrency regulations, as policymakers worldwide struggle to control an asset that saw its value surge 1,500% in 2017 alone.

What Would a Ban Mean for Crypto Investors?

If South Korea enforces a full ban on cryptocurrency trading, it could significantly impact the industry. However, experts suggest that traders may find alternative ways to continue trading.

Mun Chong-hyun, chief analyst at EST Security, believes the ban will create obstacles but won’t eliminate crypto trading entirely.

“Keen traders, especially hackers, will find it tough to cash out their gains from virtual coin investments in Korea, but they can go overseas, for example, Japan,” Mun explained.

Cryptocurrency analyst Park Nok-sun from NH Investment & Securities highlighted concerns over market volatility and investor behavior in South Korea.

“Some officials are pushing for stronger regulations because they only see more investors jumping in, not out,” Park said, warning of speculative risks.

Public Backlash and Growing Opposition

The proposal has sparked widespread opposition among South Korean investors. By Thursday afternoon, more than 55,000 citizens signed a petition urging the presidential Blue House to stop the crackdown on cryptocurrencies. The overwhelming response even caused the government’s website to crash due to heavy traffic.

South Korea has been one of the most active cryptocurrency markets, with interest extending beyond professional investors to college students, housewives, and retail traders. The government’s concern is that the market has transformed into a gambling frenzy, increasing risks of financial instability.

The Future of Crypto Regulation

While South Korea is taking a hard stance, the global regulatory landscape remains uncertain. Major financial institutions have expressed skepticism, with JPMorgan Chase CEO Jamie Dimon previously calling Bitcoin a “fraud” and threatening to fire employees caught trading it.

With increasing scrutiny and potential regulatory changes, the future of cryptocurrency remains unpredictable. For now, South Korean investors—and the global crypto community—await further clarity on the fate of digital asset trading in one of the world’s most important crypto markets.

Hot this week

Ark Invest Buys $11.5M in Coinbase Stock After 17% Crash Amid Market Turmoil

Cathie Wood’s Ark Invest Bets Big on Coinbase Amid...

BlackRock CEO Warns of Inflation as Bitcoin Crashes Below $80K Amid $1 Trillion Crypto Wipeout

The cryptocurrency market is in turmoil as Bitcoin tumbles...

Bitcoin Hits $109K Before Trump’s Inauguration, Drops 9% Amid Policy Uncertainty

Bitcoin’s price rollercoaster continued this week as speculation over...

Bitcoin Surges and Crashes as Trump’s Inauguration Fuels Crypto Speculation

Bitcoin investors experienced a rollercoaster ride this week as...

What Is the Melania Trump Meme Coin and How Much Is It Worth?

Just hours before returning to the White House, Melania...
bitcoin
bitcoin

Bitcoin (BTC)

Price
$ 84,210.56

Topics

Ark Invest Buys $11.5M in Coinbase Stock After 17% Crash Amid Market Turmoil

Cathie Wood’s Ark Invest Bets Big on Coinbase Amid...

Bitcoin Hits $109K Before Trump’s Inauguration, Drops 9% Amid Policy Uncertainty

Bitcoin’s price rollercoaster continued this week as speculation over...

Bitcoin Surges and Crashes as Trump’s Inauguration Fuels Crypto Speculation

Bitcoin investors experienced a rollercoaster ride this week as...

What Is the Melania Trump Meme Coin and How Much Is It Worth?

Just hours before returning to the White House, Melania...

9 Best Shitcoins to Buy in March 2025 High-Risk, High-Reward Crypto Picks

Shitcoins may lack traditional utility, but they remain a...

Bitcoin Plummets Below $90K Amid Crypto Market Turmoil

Bitcoin’s price tumbled below the $90,000 mark on Tuesday,...

Solana’s SOL Drops Below Key Price Level for First Time in Three Years

Solana’s native token, SOL, suffered a sharp decline on...

Related Articles

Popular Categories