Bitcoin prices gyrated, sinking about 13 per cent according to website Coindesk, after South Korea's justice minister said it plans to ban crypto currency trading.
South Korea's presidential office later said the ban is under review and no decision has been made on whether or not to implement it. The justice ministry has taken the sternest stance on digital currencies among South Korean ministries but other government agencies reportedly oppose an outright ban on bitcoin and other virtual currency trading.
By early afternoon in Europe, bitcoin was down 8 per cent at $13.659.
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