Why does South Korea matter so much to Bitcoin?

Authorities announce plans to crackdown on cryptocurrency trading

Bitcoin
The South Korean government had considered banning the digital currency altogether
(Image credit: Getty Images)

South Korea has become the surprise battle ground for the future of Bitcoin, after authorities announced plans to crackdown on cryptocurrency trading.

Exactly how it will do this remains vague, “but just the threat of action has been enough to drive a sell-off across the market globally” and spark a wave of protests across the country, says the BBC.

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