The bitcoine rate fell 12% after South Korea's announcement of its readiness to ban the trade in crypto-currencies

South Korean authorities are preparing a bill to ban trading in crypto-currencies in the country. This January 11, Justice Minister Pak Sang-ki (Park Sang-ki) said, reports Reuters.

We are very concerned about the situation around virtual currencies. The Ministry of Justice is currently preparing a draft law on the prohibition of trade in crypto-currencies on exchanges.

Says Pak San Ki during a press conference.

On Monday, January 8, the Coinmarketcap service, which collects data on crypto-currencies from several hundred exchanges, excluded some South Korean trading floors because of the strong divergence of their prices with the offers of other exchanges.

On January 11, Reuters reported that South Korea's tax authorities paid special attention to local crypto-exchange exchanges. Tax officers and police officers visited the offices of the country's two largest exchanges, Bithumb and Coinone, as part of an investigation into possible evasion of taxes.