No Cryptocurrency Ban in South Korea

[Deubila]

This policy is good news for the Cryptocurrency market.

In addition to Korea's removal of the banscoin and altcoin policy, the United States has officially voiced its support for and called on businesses to research and develop businesses that are associated with blockchain and crypto technologies.
This is a very good news to have on the market as South Korea and the United States are the two countries with the largest crypto trading volume in the world.

[_noname_]

I have never see such real news about banning bitcoin in south korea while some of people are just discussing that perhaps it might happen. While yes bitcoin ban in china is confirm and its officially announce. South korea s developing country and there are large number of BTC moving in market of south korea and I think no more country will think about banning bitcoin But they will thinking about legalization of BTC because country are getting strong ecnomically.

[mistletoe]

Previously they announced that they are only banning the unknown transactions in the crypto world to avoid scams,hacks and illegal transactions. Now, they are banning it completely. I hope its not true cuz south korea is a huge hub for crypto and the banning of it could greatly affect the current price of the coins we're holding. Not only that, it could also encourage other countries to do the same which is the worst case scenario for crypto

[Shreek]

These artificially created fake news to drive BTC price down haven't got as much impact as it used to be. I'm not saying there won't be any fluctuations but not as bad hopefully. I regret those days when I sold my bitcoins by being week-handed instead of hodl. I'm sorry for newbies entering this game and get ripped off like this. It's a painful experience to learn this way. Steady hands, patients and reading news can save a lots of money to us all.

and certainly the challenges of BTC in times of increasing difficulty, there may be a lot of criticism and hatred. hold in situations like this is the best way to keep my value.

[indopool]

south korea prohibit transactions with bitcoin?
does this multiply the loss for the critical market so keep the price down.

[HashFace]

It sounds to me like all along the plan was to get control of the exchanges so they could monitor and tax people.  I'm not sure they ever really intended to ban all trading.  It looks to me like even if they shut down the Korean exchanges, it was never seriously proposed to ban trading in foreign exchanges.

[Futurm]

It is true that South Korea has not issued a so-called ban, but the regulation of cryptocurrency has become more and more stringent, and the other China intends to further regulate the cryptocurrency market.

[pooya87]

media has always made these inspections into a much bigger thing than they are. it is actually pretty simple, when a business is using fiat and is involved with handling a very large amount of it, then it should comply with certain rules. for example the most obvious ones are AML KYC. the money laundry is something that countries take seriously and when a lot of money (fiat) goes in and out of an exchange they will want to do an inspection of that exchange.

we have seen this multiple times in China and different countries with Chinese being the biggest one in the news. but now that Chinese exchanges are closed the FUDsters look for an alternative and what better than Korea with similar status and a large volume...

[CryptoBry]

These artificially created fake news to drive BTC price down haven't got as much impact as it used to be. I'm not saying there won't be any fluctuations but not as bad hopefully. I regret those days when I sold my bitcoins by being week-handed instead of hodl. I'm sorry for newbies entering this game and get ripped off like this. It's a painful experience to learn this way. Steady hands, patients and reading news can save a lots of money to us all.

It still affected somehow because there are still so many newcomers that can easily be swayed by false news but overall we can certainly say that the market is already maturing compared to the kind of reactions last when we were dealing with China. South Korea is a different county and I am sure that their officials are always listening to the people and in the end will never do the mistake of banning cryptocurrency but of course regulation has already started and that can be a good direction to take.

South Korea is now one of the biggest markets for the cryptocurrency industry and developments in this market can push up or pull down the global market for sure. As a very dynamic market, we are expecting that more and more news here can influence the overall direction of the whole cryptocurrency movement. Whatever development here, still we have to thank South Koreans for carrying on after the ban in mainland China.

[awawo]

The justice minister comments yesterday has affected so many things  cryptocurrencies market and why is the minister always hostile against bitcoin and the rest of the cryptocurrencies, but thank God that the justice minister in south Korea was acting independently which can not stand as an authority. And what we should now is China is the host of the largest hub of cryptocurrencies mining and trading in the world, and most of this negative news are always published in Russian government media in other to frustrate the existence of bitcoin. But thank God for this news now at list bitcoin price will rise now and new investors will come in now to boost the market.

[datodota002]

this news will greatly reinvigorate the market that has been for a few days ago and will attract back bitcoin traders and investors in korea and will make bitcoin prices back up. this news is a sign for traders if they want to get maximum profit.

[shezu007]

this news will greatly reinvigorate the market that has been for a few days ago and will attract back bitcoin traders and investors in korea and will make bitcoin prices back up. this news is a sign for traders if they want to get maximum profit.

Those users of BTC who have more then enough information about BTC they are never thinking about price of BTC.
Because some people are not depend on price of BTC that it goes down because More people are using bitcoin because of their high speed and tax free.

[Mark Sherman]

More than 60,000 Koreans have signed a petition against the mooted cryptocurrency trading ban and for the dismissal of the head of the Ministry of Justice Park Sang-ki, who announced the upcoming ban. South Korea is one of the largest hubs for cryptocurrency mining and trading.

[zhangfeng666]

News every day, is not conducive to the development of the currency, I have become accustomed to, I won't go to believe this kind of fake news, unscrupulous media people, fake news to suppress the price of the currency

[burner2014]

News every day, is not conducive to the development of the currency, I have become accustomed to, I won't go to believe this kind of fake news, unscrupulous media people, fake news to suppress the price of the currency

Yes there is no banned in cryptocurrency in South Korea, I have a relative there  who also knows bitcoin and they said crypto there is legal so they can freely do it anytime without any hesitations, glad that Korea is open for this set up and for sure their country will really benefited from it.

[Nivir]

Too many people spreading FUD and fake rumors even without understanding first certain situations. These mighty Koreans are keeping our local exchanges in short of bitcoins.

[readygoaw]

I know it always that cryptocurrencies wouldn’t be banned anywhere. Of course if the country has access to the internet. South Korea is high developed state and they understand the importance of cryptocurrencies.