It appears that the threats from South Korea banning the Bitcoin trading has subsided. However, it didn't really give the Bitcoin bulls a much needed lifeline. It has been trending lower since Sunday.
South Korea is requiring that anonymous transactions involving cryptocurrencies be made traceable. The digital currency exchanges will be subject to a 24.2 percent tax. South Korea's Financial Services Commission Vice Chair Kim Yong-beom said Tuesday that the new measures would take effect on Jan. 30.