South Korea’s Bank Chief Warns Bitcoin Investors

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South Korea’s central bank chief on Wednesday warned of ‘irrational exuberance’ in trading of virtual coins, which have risen dramatically in value this year amid frenzied speculation.

“Looking at recent frenzy over virtual currencies worldwide, I worry whether there is some dose of irrational exuberance there,” Bank of Korea Governor Lee Ju-yeol said over a year-end event with reporters on Wednesday night.

India Income Tax department collected user date’s from many Indian Exchanges 2nd week December.

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The price of bitcoin, the world’s most well-known virtual currency, lost almost one-fifth of its value to $15,800 this week after peaking as high as $19,666 on Sunday, as feverish demand ebbed slightly after the exchange giant CME Group and its rival Cboe Global Markets listed bitcoin futures.

A South Korean cryptocurrency exchange, Youbit, said this week it was shutting down and filing for bankruptcy after it was hacked for the second time this year, highlighting security and regulatory concerns as trading in these virtual currencies shift on to mainstream platforms.