South Korea said that it plans to ban cryptocurrency trading. This has already back-handed the virtual coin market, as bitcoin prices are tumbling yet again.
This has devastating effects on the market because of the crucial role South Korea plays creating the global demand. There is great unease with the cryptocurrency investors, as nothing backs the currency and it is a new venture.
No one has ever created a fully digital currency that works as of yet. However, it seems to be the direction the world is going towards.