Bitcoin Forum

Great news that South Korea has now taken the decision to recognise crypto exchanges as regulated banks - a fantastic piece of news for anyone who has an interest in crypto and it's future; and also great news for us here at CCRB, as we work towards further developing our very own exchange, CCRBX. Read the full article on the CCN website https://www.ccn.com/breaking-south-korea-is-officially-recognizing-crypto-exchanges-as-regulated-banks/ or visit CCRBX at https://ccrbx.io/

that's really amazing. We need high standards for crypto exchanges and whole crypto industry. If the exchanges in s korea manage to get the bank license, well that will be really cool

Great news for the citizens of south Korea. I hope it will also implement in our country because maybe it will help the citizens of my country. And I also hope that it will implement in all countries. Bitcoin is having a good work even though there are some problems in price.

Crytocurrency and its exchanges has gotten too big to be ignored.

Are you sure? Are you ready to change bitcoin to Won? What happens if the us and European Central banks do not give them a license to use dollars and euros? Probably any positive news is good but the main thing that you need to pay attention to is the application of this in life.

It's a good news for this market. Now in South Korea people will more invest on bitcoin because they are not afraid for government rules. Because governments are already accept this market. Now it’s the time for other country to accept crypto currency.

This is a great news undoubtedly. Hope that this will be benificial for crypto and we will not to be so afraid of the scams. The scams will be recognised by the government.  ::)

Great news for that since Korea and Japan are really working hard for bitcoin and other cryptocurrency to become reality or to exist and it will be a great help for all of us, imagine how much demand it will bring to us today onward that Korea has finally come up with that decision.

These regulations are good for everyone and it’s going to weed out all the scammers in the exchanges gone are the days that they take advantage of the anonymity of exchanges and doing whatever that they like and scam people and get away with it.

This is excellent news as I was just visiting South Korea! Seoul is one of the most technologically sound cities I've seen with dozens of high rises and technology companies.

Crypto Exchanges being regulated in South Korea also means good things for companies like Samsung that are working with Ethereum. This is huge!

+1 for Crypto

Same as this lots of news were rolling out from different regions of the world. But, the market isn't getting strong to take a forward step reaching out high. South Korea coming up with such a plan is really appreciable, following its growth can see more countries get into similar adoption and regulated use of cryptocurrency.

Probably Koreans will be more advance in terms of technology than before. It will also affect the value of their money versus dollar. Good thing Koreans was adoptable and adjustable on technologies and economic exchange.

Without no doubt this is a good news for the world of cryopto currency. if the government recognises crypto and crypto exchange sites the popularity and the usage if the currency will increase significantly. This will also benefit the economy and will keep the country a step ahead to revolutionized world. This would also encourage other countries to recognize crypto currency

Nice, we can see bitcoin price pump. Japan, korea and china will be good ecosystem for cryptocurrency. Just wait until more countries follow them. It isn't really big news because shouth korea has many people who support cryptocurrency, then the government should facilitate it's citizens needs. Probably we can see that south korean exchanges will be the biggest cryptocurrency exchanges in the world.

People who are cheering to this news are not understanding one fact that, cryptos are not meant to be regulated this way. We are deviating from the main goal of cryptocurrency here. I have mixed reaction on this news. Lets look at the pros and cons of this incident.

Pros:
1. Increased investment and adoption rate
2. Better security and probably insurance cover against hacking
3. Higher licensing fees and stringent approval process means no random individual can run exchange business thus leading to better operational integrity.

Cons:
1. Governments are slowly increasing their controls over crypto market
2. Exchanges will be bound to report every transaction to the government agencies
3. No mention about international userbase
4. Stricter KYC norms to be followed
5. One step towards centralization

I really can't reach to a conclusion on whether it's good or bad for the crypto market.
 

The fact they start to regulate crypto means they start to understand its value. I see it as a step forward.
Also regulation is necessary because of the interaction with the banking system. And I guess that we still need the money flow, somehow.

I think that if Bitcoin would not be as transparent as it is, the regulation would not look this bad also...

Good news, South Korea seems trying to be very Friendly to Crypto as Japan.

The Korean government has a positive approach to the cryptocurrency industry. Using higher standards to demand cryptocurrency can make cryptocurrency more acceptable.

For many years, the South Korean government has been considering the regulation of the cryptocurrency market. Thus, they create a new industry that will be designed for cryptocurrency trading platforms. This would mean greater awareness of the client and anti-money laundering. Will increase control over domestic Korean cryptoamnesia.Critical investors will view digital assets as a new asset class.

This is indeed a great news for the people associated with the crypto currency market. If more and more countries become engaged in this market, it will surely work as a good thing for it because it means that the market is having a constant flow of activities and is not idle.

So, this is another great news for all of us here. I know there are more countries to join too. And so it is expected to have a bull run soon. Let us just wait for this to happen.

The step made by korea will have a big impact to cryptocurrency or in bitcoin itself, as we all know if you mentioned the word cryptocurrency, bitcoin will pop in your mind, so bitcoin will probably gain more popularity with this regulations made by koreans. This may also influenced other coin to accept and just regulate the usage of bitcoin and forget about banning.

I am also excited about this news, especially after all the reports reflecting the real fact that China now is practically a crypto-free state. I think that more states should open their doors for cryptos.

Currently the South Korea has recognized the crypto currency exchanges as regulated banks. Very good news for the crypto community.

This is a good very good news. It means they have now accepted the reality of cryptocurrencies. I don't see them ever banning it again. This may also serve as encouragement for other Asian countries and the world over to accept cryptos.

Very good news
Because South Korea is one of the Asian tigers with a strong economy
I think other East Asian countries will follow South Korea

Wow thats an incredible news. I am really happy to know that. Its really great that day by day many countries and companies excepting cryptocurrencies and supporting it. South Korean people will be greatly benefited by it.

That's such a great news ! It's good to see the countries gradually opening up to cryptocurrency. It is expected that many more countries like South Korea would recognize cryptos as regulated banks.

What if the government begin to use such Exchanges to delist coins they don't like or don't follow government rules?
Stuff like this only helps to defeat the goal of having a permissionless  Crypto World.
 
"When purpose of something is not understood, abuse is inevitable"

I think we will learn the hard way.

Great news for Korean citizens. Bitcoin is having a good job although there are some price issues. That's really great. But are you ready to change the bitcoin to Won?

We see a great progress for the crypto community. we see more and more countries adopting cyrptos. I hope other countries do this also and see a future where bitcoin will be legalized all over the world.