Rising speculation on cryptocurrencies like bitcoin could cause kids to get into crime such as drug trafficking or pyramid schemes, South Korea's prime minister said Tuesday.
In a statement posted after a cabinet meeting, Prime Minister Lee Nak-yeon warned on the dangers of virtual currencies.
"There are cases in which young Koreans including students are jumping in to make quick money and virtual currencies are used in illegal activities like drug dealing or multi-level marketing for frauds," Lee said, according to a translation by CNBC.
The South Korean leader called on government agencies such as the Ministry of Justice, to look into the issues.
"This can lead to serious distortion or social pathological phenomena, if left unaddressed," he said.