South Korea mulling ways to curb craze for bitcoins
SEOUL, Korea, Republic Of — South Korean is studying ways to regulate speculative trading in crypto currencies as the latest surge in prices stokes a craze over bitcoins.
The country’s financial regulator said Friday that it has ruled out using bitcoin for derivative products. The decision effectively bans investing in bitcoin futures that will start trading on the Chicago Board Options Exchange this weekend.
It’s part of a backlash against digital currencies in some Asian countries, even as Japan embraces their use.
Indonesia’s Central Bank spokesman Agusman Zainal said Friday the Indonesian monetary authority will issue a rule prohibiting the use of bitcoin as a means of payment by 2018. At the moment, it is reviewing the situation, he said.