In South Korea they are denied the nature of real currency, one of its main bitcoin markets goes bankrupt and from Japan they are labeled as unreliable.
The cryptocurrencies are living their moment of development, marked by two extremes. On the one hand, the markets smile at them, raising their valuation at spectacular levels of growth; and several countries have already pointed to this trend. On the other hand, the organisms in charge of the financial regulation of other nations or groups of territories do not just see them with good eyes, repeatedly warning about their character and their volatility.
In this last group are two of the leading economies of Asia, South Korea and Japan . The financial authorities of Seoul have explained this Tuesday that they do not consider bitcoin and other cryptocurrencies as foreign currency of any kind , stressing the need to “prevent people,” according to the head of the Financial Supervisor Service, Choe Heung-sik. By not considering them as such, “we can not intensify regulation for now”, since doing so could stimulate trade, Reuters reports .
The same agency also does echo of the bankruptcy of a trading market criptomonedas, Youbit , after suffering the second hack so far this year. Youbit suffered the theft of about 4,000 bitcoins in April, in a cyber attack that links to North Korea. This same Tuesday the second incident has been revealed, of which the amount stolen has not been made public, although it has meant the loss of 17% of its assets.
From Japan, the rise of cryptocurrencies is not observed with enthusiasm either. The Minister of Economy, Taro Aso, said on Tuesday that there is no clear premise about what a currency is, but that in any case bitcoin has not yet been proven as a credible currency , and that it will monitor its short-term development .
This same Sunday, the bitcoin debuted in the CME , another of the futures markets of Chicago, although with less success than in its beginning in the Cboe. After its release, the price of the cryptocurrency, close to $ 20,000, experienced a fall, which on Tuesday morning has brought it below $ 18,000 , according to Coindesk data .