Bitcoin Forum

Finally btc price will raise again


https://news.bitcoin.com/korean-crypto-exchanges-share-data-with-banks-new-account-system/

What's really more interesting is Bitflyer getting an exchange licence for the whole EU common market. That should help make bitcoin a lot more accessible which should mean fairly solid price increases.

ah good news
i know it, they doin some issues to make bitcoin price down

Well, better if they formally declare a total not banning of digital currencies anymore in their country because for me it will be their big lose not ours as bitcoin will really a big help for the economy to grow of every nation once they adopt bitcoin. Anyway, this is a good development than nothing as we will hope and expect that market will rise soon as South Korean are proven great investors for digital currencies investments.

This is good for price but dont like this idea that they have to share data who is having bitcoin and who is not having it. Dont like this idea but if this is to increase price then we have to accept it all the way.

The sad and harsh truth may be that south korea can't afford to take anymore hits to its localized economy with lingering concerns over recession and economic slowdown hovering as dark clouds over the horizon. They may not be able to afford losing their crypto markets which, last I heard ranked as the 3rd largest crypto trading market in the world.

Naming private banks as overseers and regulators of crypto trading could represent a serious conflict of interest. Banks are one of the primary competitors to bitcoin. In a way, having banks regulate crypto markets is similar to AMD regulating intel or coke regulating pepsi. Would prefer a form of independent regulator, over one that is subject to conflicts of interest.

Reading the news is something to be happy about though but it actually sends some message and even a further anonymity being wiped away gradually in our own eyes.

1. It shows that South Korea have a major stake in bitcoin and every of their actions over there will affect the price no matter how bad that is but that is the current situation about that.

2. The mentality of my details is not known to government is to be eradicated because for banks to be fully ready to be integrated based on the article then shows that information will be synchronized and if their banking system is like ours, every bank account you own or about to open is already synchronized to you. No where to hide. Again, it means the people from South Korea should be ready for another new round of KYCs to be filled if they want to continue their crypto activities.

In all, lets not rejoice because the free hand at this time is not permanent as there will still be more to come. Policies will be reviewed and tightened as we move on because government have then realize the potency of their power over crypto market.

This isn't so bad, to be honest...  I'd rather have a bank like this that wouldn't ban my account when I sell bitcoin directly to my bank account. Even tho you have to share your personal information with them, why's that such a bad thing? I mean, it's not like the bitcoin is still active only on silkroad so people have to be scared of police tracking them down. Let's be honest here, some regulations with banks are needed in order for bitcoin to become more viable and jump in price.