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Author Topic: Would korean shut down bitcoin exchange?  (Read 102 times)
Klestar
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January 16, 2018, 08:13:06 AM
 #21

I think the korean government will just close it temporarily and will put some regulations on it. Korean government wants to control the exchanges on their country to prevent abusive actions from the people and protect people from some scams and frauds. I've heard that 5% of bitcoins in circulation is under that exchanges which is kinda alarming for the community.
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s31joemhar
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January 26, 2018, 02:26:02 PM
 #22

Yes there is some news that spread about this matter. I am looking forward that it not may happen since korea is one of the biggest investor in bitcoin.

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January 26, 2018, 06:34:42 PM
 #23

Based on my observations Korean will shut down the bitcoin exchange in their country because bitcoin replaced their currency and if they allow bitcoin their currency will be down and their country will also be down that's why they banned bitcoin in theory country that is for the sake of their country. Many country will do this also when their currencies is replaced by bitcoin

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January 26, 2018, 07:11:53 PM
 #24

Currently there are some news report about korean government. The report say the government there has great concern on bitcoin. Bitcoin has been very popular in korean. What we saw is that the price of altcoin is much higher in korean than the average around the world. However, the unconfirmed message about government's decision now gave a bit hit on bitcoin price. What we saw these two days is the continuous decreasing of all in the market. What if korean really close up exchange? It may pull the price down to zero!!!! I guese. So, do you think whether korean would shut down bitcoin exchange? Would that also lead other governments(like US or China) to close exchange? what if all exchanges are closed up in the world?  Cry Cry Cry
Korean government has been earlier thinking about completely banning bitcoin and other crypto currencies.But recent update is that it has just decided to regulate cryptos.

Even if south korea totally shuts don bitcoin exchanges,even then it would not make bitcoin price go to zero.Instead,it would have a small impact on bitcoin price.


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January 26, 2018, 07:14:03 PM
 #25

They were thinking to totally ban crypto but I assume they found out that this wont be a good step forward for them. Thats why now they are planning to regulate it.

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January 26, 2018, 07:15:01 PM
 #26

They said it was fake, and there were good news yesterday.
Yes there is some news that spread about this matter. I am looking forward that it not may happen since korea is one of the biggest investor in bitcoin.

They did not ban or shut down all the exchanges in there, they just created some kind of "regulation" over them, and to all cryptos in general.

I do not know if you are just randomly posting in here, or if you are really interested. But that is the real truth.



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January 26, 2018, 07:17:56 PM
 #27

Based on my observations Korean will shut down the bitcoin exchange in their country because bitcoin replaced their currency and if they allow bitcoin their currency will be down and their country will also be down that's why they banned bitcoin in theory country that is for the sake of their country. Many country will do this also when their currencies is replaced by bitcoin
South Korea is not banning bitcoin or the exchanges. The exchanges at South Korea has been unregulated for years. Now they have decided to ban "anonymous" crypto currency trading. Note that they will not allow anonymous trading, which means that you will only be allowed to trade if you have your identification verified. So all exchanges will now be regulated and will need to have verified users. They will also need to give all information about their users to their local banks.


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January 26, 2018, 07:28:43 PM
 #28

It's most likely a rumour. In my country there were same rumours about the government banning Bitcoins. Few newspaper even stated that it has been banned but the thing is it's very hard to completely shut something down in a democracy. And even if Korea bans Bitcoins, crypto currencies won't have any permanent damage, just like China who's market as people said in their posts before is much bigger than Korean market and still Bitcoin stood stronger than ever.
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January 26, 2018, 07:35:40 PM
 #29

It is very unlike that South Korea will attempt to shut down Bitcoin exchanges. As far as I know, a lot of Korea citizens have been investing in Bitcoin and other cryptocurrencies lately. For me, it is another fake news which aim was to lower the Bitcoin price like China and Russia did. Don't you think that some governments are spreading FUD in order to prepare for the "crypto cold war"? I wouldn't be surprised if they soon started to create huge mining farms and even their own fork of Bitcoin.
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