Surge in Bitcoin Demand Causing South Korea to Rethink its ICO Ban

[kreslik.news]

Bitcoin is on a crazy ride this week. In the last 24 hours alone, the coin gained more than $2000 and reached $15,200 at the time of writing. However, in South Korea, the situation has grown even more tumultuous. In Bithumb, the largest exchange of the peninsula, Bitcoin is trading beyond $17,800. This means that Koreans are buying the coin with a premium price of $2,600.

Though the small county accounts for only 7 percent of the global bitcoin trading, the recent high demand for the digital currency has skyrocketed the price. According to Tony Lyu, Founder and CEO of Korbit, the ... (read more)