South Korea ban of all crypto transactions.

[Smarty14392]

... it was considering ...
“We are discussing ...

these are the keywords and in my experience there are lots of these types of "discussion" and "consideration" all around the world about bitcoin and banning or not banning it. even in Japan, you think they just all 100% agreed about adopting bitcoin?

and of course in the end it will all come down to two things: taxes and illegal activity.
they don't care about the second one that much, they care mostly about the taxes and the revenue that will create for them.

Who said bitcoin is responsible for the illegal activities, our own mentality is responsible for it. Crimes do exist in those countries where bitcoin is banned. Why we always try to hide our guilt and crimes with bitcoins. Why don’t the government jail their mass? because we are responsible for our mentality and not the bitcoin. And it is rewarding us with multiple benefits , allowing us to earn good amount in order to make our present good

[coinfinger]

It is a very sad news.
Many people get effect of this. South Korea bans all crypto transaction in their country. They want control on cryptocurrency because they think that these things may effect there economy.

Yes south Korea government thinks that bitcoin can effect economy. But i don’t think so that it can effect the economy rather that it give support. In sense of employment many people work with bitcoin. And also many people investing in bitcoin. So it is a wrong move of south Korean government.

[mrcash02]

Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes “an all-out ban.”

“We are discussing to what extent the government will regulate the trade. Including the prohibition of trade”. he said at an at a luncheon meeting on Monday.

The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.

you will see more and more of this over the next few months as bitcoin is no longer flying under the radar. It seems everyone is talking about about crypto currency and how much "money" is being traded daily using it. Im not optimistic about how financial institutions and governments are going to tread bitcoin in the future.

I agree. The interest in Crypto-Currency is increasing day by day and that is making countries commands become alert about it and in the worse scenarios they want to ban it. I think it will become even worse and if Bitcoin enthusiasts don't do anything about it the governments will do everything they want without resistance from the other side. On my country some politicians want 1-6 months in the jail for who uses Bitcoin.

[Yakamoto]

Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes “an all-out ban.”

“We are discussing to what extent the government will regulate the trade. Including the prohibition of trade”. he said at an at a luncheon meeting on Monday.

The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.

Hit me with a source fam because this doesn't sound plausible without some kind of reputable source to back it up. SK is one of the large components in the Asian cryptocurrency market, it would be a surprise if they made an effort to ban cryptos completely with their country being at the forefront of the emerging markets. It might have something to do with people pulling their money out of the SK currency due to fears about things with North Korea, but I won't make any assumptions because I don't know SK politics and their citizenry's opinions.

The market seems to reflect some bad news recently though, so maybe you're right.

[antagonist]

Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes “an all-out ban.”

“We are discussing to what extent the government will regulate the trade. Including the prohibition of trade”. he said at an at a luncheon meeting on Monday.

The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.

so many strange thing happen in south korea recently
they put their own president into prison same time they have also imprison samsung chairman ,, this is what they are doing to their own leader without fear , so this one does not shock me
i expect this nonsense from these peoples

they only cause harm to themself for being tough like this against cryptos

[Irvinn]

The information that South Korea is going to prohibit all types of transactions in the crypto currency is rather outdated and does not correspond to recent events. As far as I know, South Korea has decided to regulate the circulation of crypto currency on loyal to the crypto-currency terms. Given the large trading volumes of crypto currency in this country, its prohibition would be illogical and would bring significant losses to the economy of this country.

[levvv]

why they banned bitcoin ? they can make profit using BTC or other crypto currencies.
imagine peoples around the world buy their plastic surgery in crypto currency.

[Indrawan77]

This kind of issue could make bitcoin price to go down, but if only one government banning bitcoin it wont have a lot of effect and there will be more bitcoin for other investors, and 2018 we will face more of this issue because of the bitcoin popularity that rising very high, it has caused concerned from the government, so we will see what will be the next news from the government

[DARKANGEL6415]

This coming from South Korea seems kind of weird bizarre sick joke. South Korean people pride themselves on being a country where innovation for new technology comes from alot of the time. Even companies like Samsung always seem to boost how progress is not restricted in South Korea as it in places npt only in places like North Korea. Also other places that claim freedom of businesses like here in the USA or Canada. I hope it is all just talk, but if its real then i guess people will move on like with China.

[maxxdxx]

It's not a ban, but some regulations. Some news channels did the same thing a couple months ago saying that Russia was going to ban crypto currencies and not regulate them. Do not believe anything on the news feeds.

[phoenixpills]

This is just a rumor, for now. We can never tell whether they are going to change their mind or not. But, if it stays on South Korea, other countries are still safe to use cryptocurrencies.

[Sevarchik]

South Korea surrender after many hack's exchangers.
He cant ban all transaction people who want use blockchain find ways how to do it

[Kulafu]

Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes “an all-out ban.”

“We are discussing to what extent the government will regulate the trade. Including the prohibition of trade”. he said at an at a luncheon meeting on Monday.

The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.

If the SK wil ban the cryptocurrency it will greatly affect the market. There are a lot of Korean in this business.
Seems the government feel the weight of cryptocurrency that why they try to do some measure on it.

[cryptogeek101]

This is not a welcome development for cryptocurrency business in south korea. The government will not be doing the people good by banning crypto transactions. Its a very wrong move.

[Harley29]

It is a very sad news.
Many people get effect of this. South Korea bans all crypto transaction in their country. They want control on cryptocurrency because they think that these things may effect there economy.

Bitcoin don’t care about ban if south Korea ban bitcoin so nothing will be happen to bitcoin because bitcoin is now very strong and a lot of rich countries are supporting bitcoin it also happen in past because when china ban bitcoin so bitcoin fight against them and now you can see where is bitcoin and still bitcoin is moving fast because world need bitcoin and they are also making bitcoin legal which will make bitcoin more strong.

[Dingdong7]

Maybe this views na South Korea is threatened on the bad impact of crypto currencies in their economic state. And really the are many ICO and cryptocurrencies that were only made for self interest and to scam other people. If this ban would happen, I think it will somehow affect the price of bitcoin. 

[0t3p0t]

Financial Services Commission (FSC) Chairman Choi Jong-Ku said on Monday that it was considering measures to restrict cryptocurrency transactions to some extent which includes “an all-out ban.”

“We are discussing to what extent the government will regulate the trade. Including the prohibition of trade”. he said at an at a luncheon meeting on Monday.

The clarification comes after news spread on Friday that South Korea was already considering banning all kinds of transactions.

If South Korea is banning all kinds of transactions in cryptocurrency, I think the main reason they did that is  because they don't want cryptocurrency to dominate and kill their local currency which is Korean Won. Just like what China did where it's government strengthen fiat money and trash the cryptocurrency. This is the truth about war between centralized and decentralized assets. But at the end of the day people can still be part of the revolutionary coins and no one can ever stop it unless the use of internet connections are prohibited. I hope that one day these countries will realize the true meaning of freedom. This actions will lead to enthusiasts leaving their respective countries and will be moving into crypto friendly counties and will help boost it's economy.

[CNY dasd]

Is this a real news? I can not think of why they banned Bitcoin completely.
Even if they announced the law, I think bitcoin will still be active in Korea.
But this is just a piece of news, and it is not certain whether to ban Bitcoin.

[btcformula]

As community member to Save crypto coin we must report illegal activity that runs by crypto. If we fail to do that A big Red signal waiting for us. If people lost trust in something it's very hard to bring trust on that. Like Yahoo, TORRENT etc.