As the craze for bitcoin continues into 2018, countries and institutions are busy introducing new rules to rein in the market. The European Central Bank has called for bitcoin to be regulated and taxed, labelling the cryptocurrency a tool for money laundering. The South Korean government said it will regulate speculation in cryptocurrency trading within the country. The steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to close virtual coin exchanges. Meanwhile, Israel is also planning to ban companies based on bitcoin from trading on the Tel Aviv Stock Exchange.