Bitcoin Forum

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

You should have out the source. I found it anyway here https://www.reuters.com/article/crypto-currency-southkorea/skorean-lawyers-press-govt-for-cryptocurrency-laws-investor-protection-idUSL4N1UF2BP

You can't expect governments to listen to whatever is said to them. There are several people who already confirmed blockchain to be useful but even today ETF was even denied.

Such news does not particularly affect the market situation because from experience I can say that there were a lot of such important news that contributed to the growth of certain coins, but this did not happen.

I think Korea sees this as a very good future. Awesome news. If Korea adopts such a law, we will see a rise in the cryptocurrency economy.

This kind of news take no effect to the market. The government decision also, is not affected by this statement.  This news has only one function, used to soothe traders mood. Korean lawmakers have long been unfriendly to cryptocurrency.

Everything should have some certain control. Cryptocurrency is very easy to be used by bad guys to do illegal, so putting it in a framework is not a bad idea.

as customs with regulation on arrange with the blockchain occupation on casual business on daily market scheme that more to focus as might to work on decision as appealing use with distinctive of feature with the crypto finance on referring details of goods and service with the deliverance as targeting the wider scopes of public with audiencies.

I guess it's rather the second one...But still regulations are not always something bad. It will bring a lot of good into this sphere like new flow of money from institutional investors who are craving for regulation at the moment and are waiting for this moment to start acting on crypto market. And this will lead to a significant growth of the whole market and new wave of crypto hype =)

Nothing has changed on this news, still, the mind of government can't convince them that there are a lot of things that good to adopt blockchain technology in a state. As of now, I believed that this blockchain technology has under surveillance and governments making some plan on how to unite people on this kind of currency since it is decentralized and regulation is impossible to apply.

My opinion that main things that affect the market is a marketing and demand, any news is secondary.

Everything is a good thing, we should wait for more regulations.
we are now in bear market now the season is not well.
But this is not a sign that people are having a low demand on crypto!
they are just waiting for the right time! regulation is indeed a bad thing for us now but once that regulations approve the moon can't be stop!

Such news comes out almost every day.Of course it's nice to realize that cryptocurrency is recognized slowly and blockchain is part of the structure of various fields of activity,I think it is still only the embryo of global change. Still ahead.

the uptrend is so close, we can feel it by this kind of news, spread news and make F.U.D
so people would care more about, and whole market would have some green day.

This is all just one article out of a million! The government will do what the higher ones will say! I am sure that this is a global plan that is quietly being translated into reality! And everything will go according to someone’s plan and not at all faster!

as you say, indeed we should be careful of the news that often arises, because besides the news sometimes there are people who are bad and want to plunge us. then the city must be more careful, in forums and outside the forum. indeed we all have the desire that crypto improve, but not the lie we want.

It won't change anything if the government doesn't care about their opinions, What if the government cares about their opinions? Of course, the things above will be considered, and, maybe it will encourage trust and Crypto adoption in Korea

Can you give me the latest news about ETF? i'm a bit interesting to see that but the government will not try to hear them all. But remember there was a good news about south korea will try to left the ban from the icos and try to create a regulation framework to the ico. that means if the government has been opening its mind to receive something new to be adopted.

in history of cryptocurrency market, this kind of news is so familiar to me, I don't think it would make any change
in case of alot of news like this spread at the same time, it should make some move though, but that day was far away

It's not really a news it's just a plead for the government to accept and legalized cryptos, what I will consider as a good news is when the government accepts their request and review their stand and legalize crypto.

I want to say this is just a variant of the future events. Until concrete actions are taken, there will be no impact on the cryptocurrency.

nderstand that the news does not affect the market, because the low number of people, the glass is half empty, there are whales here.

We don't know that yet, but I guess Governments will have less problems with crypto if they just try to regulate it for the better and for people to use it in a good way.

Yes, this is very good news. Any such news can increase the chances of cryptocurrency recovery. I hope that in 2019, the cryptocurrency will reach a new level.

I think that's great news. But of course there are nuances. Possible pitfalls.

Yes, this will bring confidence to cryptocurrency, but this will give birth to government regulations in its use. But the question is the extent to which the government is able to control this problem, because the use of cryptocurrency is anonymous.

I think in any case in the future the cryptosystem will be regulated. Unfortunately, without this in any way. Everywhere where you can earn, everything sooner or later falls into the government.

This is not bad news. Of course she is not significantly. It may affect investors in this region. In any case, it is good.

I do not think this has a big impact on the value of bitcoin. The Korean government is moving towards the development of bitcoin that is closely monitored by government regulations. But I think this is not good for bitcoin development, bitcoin will grow well and need no regulations from the government.

For now, neither. This is just an union voicing their opinion about what needs to be done about the blockchain industry and how it needs a regulatory framework. Depending on how the korean govt reacts to this, we can discuss whether it will encourage people to invest in the cryptocurrency market or not. But knowing how pro-crypto South Korea is, I would expect some positive news in the upcoming days or weeks about this whole thing.

Is it good news? Well, it is good that even the South Korean lawyers are making an effort to help establish a regulatory framework in the market with help from the govt.

I agree. Bitcoin doesn't need a government! The main task of Bitcoin and its property is decentralization. We all want to be free of anyone and also we want our funds are only under our control and in safety. So i think Bitcoin will live without government decisions.

Well, for me this is a good news if the governments breaks the preceptions and hesitation which helps the development of blockchain industries in there country. If they think this is the only why of making there industries more convennient easy and fast transaction for paying bills to the merchants.

I think that in a couple of years the state will legalize cryptocurrency, since there is no need to deny the fact that cryptocurrency will significantly improve life for many, and it is very convenient to make payments

We can't decide what's good or bad news. Except we saw effect in the market. Many times even fake news also runs the market down also. Just we need to ready for good moment.  :D

This is a common desire to get legislators to establish norms and frameworks for innovation, which is the cryptocurrency market.

The centralized exchanges could be somewhat more regulated. Few I trust apart from Binance and Cobinhood. In general I am only interested in regulation and instruments that enables "institutional" investors to enter the blockchain market.

       What ever the motive of this government at least they are talking about cryptocurrency  and that's means they consider cryptocurrency in their country , it may have big impact in their country so let's just hope a positive output of this activity since this will results maybe an adaptation by a government .

The statement only shows that different types of business are embracing crypto currency worldwide and this only making the price of bitcoin in particular to be more attractive to investors and in due time it would surge unstoppable.

I also believe that this was most likely done to attract new investments. This kind of news cant be considered significant, I do not think that they can affect the market.

Do you really think that "Korean Bar Association" can make any impact on cryptomarket or Korean government?! :D Much more bigger news about crypto came in last months, but market doesnt react at all, it is very bearish right now.

The news will not have an impact on the market because we need greater regulation to drive market prices, maybe now blockchain is considered normal and not special so with articles like that only considered nonsense, then what can push the market back to shine of course we need more many regulations are given by many countries so that the volume on the market increases and if that happens then prices will rise.

A source would have been better, in order to credit the author of the write up.
I have always known Korea to be lover of crypto, so there won't really be so much antagonism there.
Then the advise put forward might not be accepted by some countries who are yet to understand the benefit behind blockchain technology. Well, its good to see that some countries have already keyed into it

Even a good news won't really create a buzz in the market anymore.

This is a good news for the adoption of blockchain but no effect at all. Though before news do really affect but right now it seems that the demand is still the one that dominates the market. I'm not sure if KBA is too popular to move the market or create a little movement.

I think this is a good step, by urging the government to break away from negative perceptions and doubts will make investors back to believe in krypto. Hopefully it can encourage trust and investment again.

I think this is the most we can expect from a government that doesn't like cryptos very much, the Korean market is quite large, so in the end, this type of permit will help the ecosystem, so if it can be beneficial, this is better than a total ban of cryptos, for example.

No. This kind of news is not enough in my opinion to push the price again although this is really a welcoming news especially for South Koreans. Again, we really do have a lot of interesting news coming out but its seems that investors are no longer interested or just waiting for the big one, SEC ETF's review and decision and the Bakkt physical bitcoin offerings. I think those two will really impact the market in a positive way, so we have to watch out for this news in the next coming days.

That's is true crypto is under surveillance because of ETF until now is in the hang from sec aproval
Blockchain development are good help for cryptocurrency to increase accessible transaction and good effect in the cryptocurrency market

Current times can not expect anything from the government as they will always prohibit cryptocurrency in the current market economy is as depressing. And my opinion is that with the current economic situation, cryptocurrency has a great chance to improve in the future.

hopefully this will be good news and can encourage the government to agree with crypto, this can also be good news for investors, at least there is little good news so those who are worried can be relieved at the moment but it all depends on the government.

it is high time to oust strict guidelines in ico and cryptocurrency investing not only in korea but also for all over the globe. this rules will be the basis of other countries rules and so on. this will be a chain reaction in accepting cryptos.

 There is no good news about this yet. Government will not stop spiting rubllish on crypto until their paper money failed them. It is not yet time, Good news will surely come in its own time.

by taking part in the government's contribution to the blockchain industry involving cryptocurrency I think that is quite good news, so that there will be more wise rules for all about crypto and there will be many investors who believe in ICO projects that are in crypto.

The government will certainly participate in regulating ICO growth in crypto and later only ICO that pass regulations can emerge and are good for investment.

This is a sign of progress in the clamor for adoption of cryptocurrencies, however, countries are not too quick to jump at the decisions that have this kind economic of impact, so it will take a lot more to convince a country to change it laws about cryptocurrencies.

The government has its own plans concerning cryptocurrency and I don't think you can pursue him much. Korea is already a bitcoin free country and I don't think there would be much hurdles in implementing anything that is crypto related while the government won't allowed.

yes, of course this is very good news indeed.  International precedent is very important and South Korea is a significant player on the world stage... hugely because of the dominance of their conglomerations such as Samsung, Kia, Hyundai, etc.  I am very happy to see this support for blockchain and financial technologies.

I, actually don`t like news that is somehow connected with regulators or countries, as regulations aren`t things that we need.
Maybe financial crysis would be great for crypto

As we can see, there is a lot of korean's being part of many ICO projects. They efficiently utilize their task in order for the success of the ICO. In this case, we can conclude that korea is adopting to the development of cryptocurrency.

if the government starts to support bitcoin and cryptocurrency, then of course it will give a huge impetus to the growth of the cryptocurrency market

One thing to remember is that the government will never accept cryptocurrency at this time because the current economy is falling sharply. Can only hope for the future, when the economy recovers, the payment is transferred over the Internet, there is hope that cryptocurrency becomes popular and approved.

At the moment, this news will absolutely not affect the market because it is just someone suggested. there is nothing here because of what the market would start to grow

I don't think that this news is special, and it all seems ordinary. If this kind of news can affect the market situation, the same news may appear every week. So in my opinion, this is not very interesting. ::)

the emergence of good news also had an impact on the world of cryptocurrency, and now perhaps one reason why the state of cryptocurrency is very bad and arguably all the crypto coins have experienced a very drastic price decline is the number of comments and bad news about cryptocurrency, I've found a lot of bad news Crypto on several websites and forums, hopefully hopefully with a lot of good news it will affect the state of cryptocurrency as well, coupled with the government of a country that supports cryptocurrency might also make the cryptocurrency condition improve.

But bar association coming to crypto's defense is a good sign, don't you think? I mean they are from within the system and people who understand the technicalities.

I hope it would bring some changes into our industry, because we are now facing the lack of trust problem. Every second ICO is a scam and bounty hunters are left with no payments. We need to change this, otherwise the industry will die.