South Korea mulls cryptocurrency ban but it’s far from finalized

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News from South Korea is causing turmoil in the cryptocurrency market.

The country’s Justice minister Park Sang-ki said the country is preparing a ban on cryptocurrency trading, Reuters reported Thursday.

The news likely caused a price correction of most major cryptocurrencies, including Bitcoin, which is down 2.27 percent in the last 24 hours, and Ethereum, which is down 9.77 percent according to CoinMarketCap.

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