Digital Currencies to Take a New Turn in the UK

Theresa May To Take Actions Against Digital Currencies.

Theresa May says she will look at bitcoin and other digital coins "very seriously". The prime minister is thinking of taking action against them because she is worried about their popularity among criminals. South Korea has announced new bitcoin regulations this week that will affect traders, and Ms. May has suggested that she can take similar action in the future.

The prime minister said that she may need action against it "just because of the way they are used, especially by the criminals." "I think it's something we have to look at," she added. It is unclear what kind of regulation is being considered, but it is likely that the UK government will take a similar stance with the South Korean government. As of January 30, all those who deal with digital coins in South Korea will do so using their real names.

The measure, which will help authorities to trace transactions in digital currency, aims to prevent the use of bitcoin for criminal activities. South Korea will also prevent people under the age of 19 from buying or selling bitcoin and other digital coins. Once the new system is implemented, existing accounts that have already been used for encrypted transactions will no longer be valid.

Prior to this week's announcement, prominent figures suggested that South Korea was open to banning the bitcoin trade as a whole.
A recently published report claims that half of all bitcoin transactions are related to illegal activities.
According to the researchers behind it, the enormous popularity of crypto-manipulation among criminals - who tend to use bitcoin because it allows users to hide their identity - is an important factor in its value, which could fall if they turn back to it and start embracing instead more digital coins focusing on privacy.