[BREAKING NEWS]: South Korea to Legalize Bitcoin!!!!

[Minecache]

This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

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[squatz1]

If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.

[CrewKitten]

Lol @ all of these [BREAKING NEWS] clickbait titles recently. At least they are usually interesting.

[bamboylee]

This is another country added to the list of wanting to legalize bitcoin. I wonder how effective they could be on trying to track those who evade tax through bitcoin or cryptocurrencies. I think it will be a challenge to korean government to do so.

[krishnapramod]

This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

Wow, it looks like Asian countries are on a march to regulate bitcoin. In the last two years bitcoin worth 1.92 trillion Won was traded in South Korea. I guess with such a big trading volume the catalyst for Korean government's decision to regulate bitcoin is:

The possibility of wreaking havoc on national economy from digital currency bubble burst.

Electronic Financial Transactions Act, income and corporate tax thus preventing tax evasion and boosting transparency.

The government will push for the systemization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries.

Guess a price surge is on the way.

[tigershark]

If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.

I think this could be positive because it could attract investors to bitcoin. If people see bitcoin as accepted by their government, they will probably not be worried about it failing. I can see you point that it can be partly negative news, but I also see the upside to this announcement.

[iluvpie60]

I have said this a few times in the past, but  wanted to make my point again.

The other countries have many different sets of laws. The USA usually it is assumed we can do something until it is made illegal(as long as we aren't hurting anyone mos tpeople assume this).

In other countries most average people will not do something unless it is already defined as being legal. They don't take the chance, because in those countries where a law isn't already written you can still get into legal trouble due to it NOTbeing define.

This is a great thing to have happened.

[Baofeng]

After massive bitcoin trading activity in South Korea to the point where bitcoin price in South Korea exchange is higher than other exchange, it's no surprise South Korea government will take action.
As usual, it's good to see certain country legalize bitcoin, but i'm not very happy since all cryptocurrency users will be watched by government (no problem for investor though).

Correct. Trading volumes in South Korea is very high and their was a time the their is 100$ more premium bitcoin in their exchanges. So its no surprise that they are heading to legalization of it in their country. This will bring a positive news to the crypto market specially bitcoin. Let's observe how this pans out.

[Scorpion]

What about North Korea? Haha all kidding aside - they're busy counterfeiting U.S dollar bills (that are very hard to detect by the way). That's good on South Korea making these great moves for blockchain adoption. Bitcoin to the moon!

[Kabaisos]

That is hot damn news ! We should litterally fill our bags before a totally irrational pump happens. For me it is Japan that fueled the last pump, and now a new one could occur, even more bigger than the previous one, because South Korea has for me more potential than Japan.

[BartS]

If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.

The fact they created that task force, does not mean they are going to succeed, governments can create as many regulations as they like but that does not mean they will be able to track the users, I do not know the policies of exchanges in South Korea but I guess someone could take the right precautions to avoid disclosing your identity.

[HTracer]

Following Japan, South Korean parliament demonstrats divergency with US legislative power policies in relation to crypto. It's getting not so easy to declare bitcoin out of law worlwide.

[Kelvinid]

What about North Korea? Haha all kidding aside - they're busy counterfeiting U.S dollar bills (that are very hard to detect by the way). That's good on South Korea making these great moves for blockchain adoption. Bitcoin to the moon!

Yes bravo!That's a good step already..before Japan and now South Korea.And maybe by no means it will reach to our country soon.Legalization would only be possible if the government would see its potentials and positive feedbacks and i'm pretty sure bitcoin has all that.

[Reid]

Good for us but sadly too bad for the users living there.
I hope my country doesn't make that decision.
Truly, what is the idea of the South Korean government to make this happen?
Is this really for bitcoin users and the countries economy or is it just for their pockets opinion.
If you will ask me this is some scary sh1t. A great news or a bad one?
A dive in price or a rise? Think of it thoroughly.

[joebrook]

I am all up for major countries legalizing bitcoins as long as the prices dont come crashing down due to their regulations, which will eventually benefit the government instead of the people.

[Adbitco]

I think it would be interesting to see how all these countries like China, Japan, India, South Korea and maybe a few more legalize bitcoin. I don't think bitcoin has anything against any law but most of the governments of various countries or governments of almost all the countries in the world find it difficult to digest the fact that something which is decentralized and has no governmental control over can replace their centralized currencies.

[Sex Video Chat VKcams.com]

A set of bills to give cryptocurrencies ... , legal grounds is being prepared by a South Korean lawmaker
...
More investors tend to flock to virtual currencies due to skyrocketing trade prices,
while some, including lawmaker Park,
compare the cryptocurrencies with tulip, whose price bubble burst rattled the European nations.
http://www.koreaherald.com/view.php?ud=20170703000867

This law will give any preference to BTC.
Presence of bubble is published in the same "news" text.

[Hazir]

I don't want to be overly optimistic about it. I learned that it is better to wait and see how this new legalisation process will look like.
let's just hope that we won't see some ridiculous law which will curb bitcoin adoption rather that increase it among society.
I am excited - after Japan, now Korea, and we may see another price surge caused by massive nationwide adoption! 

[xderek]

What is supposed to mean, maybe they would adopt it but it is already hot in Korea. I would see a lot of people cry, because bitcoin already so high and no one expected to go higher.

[Sex Video Chat VKcams.com]

I would see a lot of people cry

Make some picture of them.