The price of the Pitcairn near $ 12,600 amid concerns to ban trading in South Korea
Pitcairn fell to its lowest price in 2018 on Thursday after the South Korean justice minister proposed a complete closure of all the country's digital currency platforms. At a news conference today, South Korean Justice Minister Park Sang-ki said in remarks published by local newspaper Yonhap:
"The Ministry is preparing legislation prohibiting any transactions based on the digital currency in the trading room. Where we see that we have serious concerns about the virtual currency, so closing will be one of the goals we seek to achieve "
This tough ban on the entire digital currency market was first proposed by the Justice Department about a month ago. A press official told Reuters that there was "sufficient discussion" between government agencies, including the Finance Ministry and other financial regulators, over the comprehensive ban proposal. Given that South Korea is among the largest digital currency markets in the world, especially for major currencies such as ## Betcoin, Atherom, Ripple, and Betcin Cash.
At the local level, prices have suffered a severe blow, with both ripples dropping by 25% and petecin at 17.5%. However, prices remain 30% higher than other major markets, which have also fallen. After a $ 15,000 price hike on the Bitfinex trading platform early Thursday, the price fell again to $ 12.639 - the lowest value for the digital currency in 2018.