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

[Vishnu.Reang]

This is very good news as another country is legalizing the bitcoin. I hope many such other countries join this so that it will have a huge positive impact on bitcoin in its price and demand. Also the real value in utilizing in buying various day to day commodities will increase with he bitcoin as a payment mode.

I am looking forward to legalization from the following nations: Russia, China, United States, Germany, and Great Britain. It is already legal in some of the US states, but the situation is not clear in the majority of them. If everything happens as per our plans, then BTC may overtake Visa / Master by 2020.

[Betwrong]

I would believe this story when I see some official communication from the government of South Korea. "On the verge of legalizing" is not the same as "definitely legalizing". Nowadays, most of the crypto-coin news sites are after sensationalist stories, and they can twist the facts or hide some of them.

wow, i think so like you but i say if this is true so the south korean will get a new era of cryptocurrency world that was a dream who hold or buy sell bitcoin from their country. its great announcement of them. but I confidently tell that bitcoin is to be legalized in the whole world today or tomorrow & your comments also appreciable.

I don't think the news about South Korea's intentions to legalize Bitcoin were only on crypto-coin news sites. Yes, if google the news it looks like that's true. But don't forget that we google it in English. Most likely if we were googling it in Korean we'd have different results.

There is still no confirmation about the news, and the Bitcoin exchange rates are going down for the past 2-3 days. If the news was true, then there could have been at least a 5% spike in the exchange rates.

Agreed, but haven't we had that spike? Bitcoin was around $2,420 before the news appeared and it became $2,600 two days later. That's even a bit over 5%.  

On a serious note I do believe that Bitcoin will be accepted by the South Korean government as a savior of their economy in the nearest future, even if the news was fake or wrong.

[AiWanChu]

ROK and JP, two of the worlds largest economies.. Hopefully EU and USA follows 

[itsallpc]

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...

That would really be a great news.Already,we saw lots of demand for bitcoins in south korea.Now,the news about legalization of bitcoin has come.First japan,then now south korea.soon we could expect india also to join this list soon.

[kimkibu]

i dont know its gonna be good or bad for people who lives in korea(me) are we gonna pay taxes after legalize process done? the arbitrage (중재) opportunities will be gone after it? so many questions

[SvenBomvolen]

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...

That would really be a great news.Already,we saw lots of demand for bitcoins in south korea.Now,the news about legalization of bitcoin has come.First japan,then now south korea.soon we could expect india also to join this list soon.

I am from Serbia and now I wonder when it is going to be legalized here. I suppose to our government it would be needed like 10 years to reach all this developed countries in the point of crypto-currencies regulation.

[eternalgloom]

I would believe this story when I see some official communication from the government of South Korea. "On the verge of legalizing" is not the same as "definitely legalizing". Nowadays, most of the crypto-coin news sites are after sensationalist stories, and they can twist the facts or hide some of them.

wow, i think so like you but i say if this is true so the south korean will get a new era of cryptocurrency world that was a dream who hold or buy sell bitcoin from their country. its great announcement of them. but I confidently tell that bitcoin is to be legalized in the whole world today or tomorrow & your comments also appreciable.

I don't think the news about South Korea's intentions to legalize Bitcoin were only on crypto-coin news sites. Yes, if google the news it looks like that's true. But don't forget that we google it in English. Most likely if we were googling it in Korean we'd have different results.

There is still no confirmation about the news, and the Bitcoin exchange rates are going down for the past 2-3 days. If the news was true, then there could have been at least a 5% spike in the exchange rates.

Agreed, but haven't we had that spike? Bitcoin was around $2,420 before the news appeared and it became $2,600 two days later. That's even a bit over 5%.  

On a serious note I do believe that Bitcoin will be accepted by the South Korean government as a savior of their economy in the nearest future, even if the news was fake or wrong.

How does legalizing Bitcoin 'save' South Korea's economy? And why do you think South Korea's economy needs saving?
SK is one of the few countries that didn't fall into a recession during the global financial crisis and they're not doing too bad now either.

They're the 11th largest economy in the world....

[batang_bitcoin]

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...

That would really be a great news.Already,we saw lots of demand for bitcoins in south korea.Now,the news about legalization of bitcoin has come.First japan,then now south korea.soon we could expect india also to join this list soon.

I am from Serbia and now I wonder when it is going to be legalized here. I suppose to our government it would be needed like 10 years to reach all this developed countries in the point of crypto-currencies regulation.

Don't worry about your country, they'll soon see and realize that bitcoin adoption will help your economy. 10 years is too long for your country to legalized and recognized bitcoin. Anyway, this is good news to the countries at Southeast Asia, it looks like there is a fiesta of adoption.

[xderek]

It doesn't take a decade to adopt something which is already wide spread. Japanese and Koreans are pioneers in many things technologically as a county. Their adoption on bitcoin came kind of late but I guess is bullet proof tech.

[DAVETUN]

Good news, this is the  best  of  time  for  bitcoin,the world  has no choice  than to  accept this cryptocurrency,hope other  country will follow suite,
I feel the  leaders of  nations are yet to  come  to  terms  to the  world of  cryptocurrency.

[MWesterweele]

It doesn't take a decade to adopt something which is already wide spread. Japanese and Koreans are pioneers in many things technologically as a county. Their adoption on bitcoin came kind of late but I guess is bullet proof tech.

Bitcoin and korea already accept bitcoins in their country. We all want to make all other  countries be legalizes it too. And many of it will accept it as one of the major country.

[BitHodler]

Bitcoin and korea already accept bitcoins in their country. We all want to make all other  countries be legalizes it too. And many of it will accept it as one of the major country.

Quit the nonsense, and pay attention to how you write your posts. Korea haven't yet legalized Bitcoin. I don't understand why people constantly mix up the terms accepting Bitcoin and legalizing Bitcoin.

Merchants accept Bitcoin, governments legalize Bitcoin ~ is it really that difficult to understand? People here only care about governments legalizing Bitcoin, because they think the price will sky rocket as result.

[Clement Kaliyar]

Bitcoin and korea already accept bitcoins in their country. We all want to make all other  countries be legalizes it too. And many of it will accept it as one of the major country.

Quit the nonsense, and pay attention to how you write your posts. Korea haven't yet legalized Bitcoin. I don't understand why people constantly mix up the terms accepting Bitcoin and legalizing Bitcoin.

Merchants accept Bitcoin, governments legalize Bitcoin ~ is it really that difficult to understand? People here only care about governments legalizing Bitcoin, because they think the price will sky rocket as result.

Everyone is glued at the price of bitcoin and everyone is happily looking forward for all these governments to legalize bitcoin,i am still not a fan of giving all the control over to the government,because i started using bitcoin because of the freedom i have with my coins,i am a bit worried whether these regulations will take away the freedom i enjoy now.

[ayurvedicurea2growtaller]

that's a very good news let's hope more countries legalize bitcoin.

[Betwrong]

I would believe this story when I see some official communication from the government of South Korea. "On the verge of legalizing" is not the same as "definitely legalizing". Nowadays, most of the crypto-coin news sites are after sensationalist stories, and they can twist the facts or hide some of them.

wow, i think so like you but i say if this is true so the south korean will get a new era of cryptocurrency world that was a dream who hold or buy sell bitcoin from their country. its great announcement of them. but I confidently tell that bitcoin is to be legalized in the whole world today or tomorrow & your comments also appreciable.

I don't think the news about South Korea's intentions to legalize Bitcoin were only on crypto-coin news sites. Yes, if google the news it looks like that's true. But don't forget that we google it in English. Most likely if we were googling it in Korean we'd have different results.

There is still no confirmation about the news, and the Bitcoin exchange rates are going down for the past 2-3 days. If the news was true, then there could have been at least a 5% spike in the exchange rates.

Agreed, but haven't we had that spike? Bitcoin was around $2,420 before the news appeared and it became $2,600 two days later. That's even a bit over 5%.  

On a serious note I do believe that Bitcoin will be accepted by the South Korean government as a savior of their economy in the nearest future, even if the news was fake or wrong.

How does legalizing Bitcoin 'save' South Korea's economy? And why do you think South Korea's economy needs saving?
SK is one of the few countries that didn't fall into a recession during the global financial crisis and they're not doing too bad now either.

They're the 11th largest economy in the world....

Well, "save" isn't the right word, I admit, rather legalizing Bitcoin will make it even better than it is now, being one of the biggest economy in the world, as another poster said. Why legalizing Bitcoin will make it better, you might ask. Well, since they managed to become that great before and now they are going to legalize Bitcoin, I think they know what they are doing, meaning they know how to make their economy better.

[BillyBobZorton]

I wonder if the current crash is due the big hack that happened in the south Korean exchange? I was not aware of this south Korean exchange even existing, and turns out it was the fourth biggest exchange in the world, so its a bit of a big deal... could this be the current dip?

https://www.youtube.com/watch?v=Q8uh8Hf8Hy4&t=0m39s

[Betwrong]

I wonder if the current crash is due the big hack that happened in the south Korean exchange? I was not aware of this south Korean exchange even existing, and turns out it was the fourth biggest exchange in the world, so its a bit of a big deal... could this be the current dip?

https://www.youtube.com/watch?v=Q8uh8Hf8Hy4&t=0m39s

As always, when big exchange is hacked the following days price is going down. I'm not sure about the reasons for that. Probably hackers sell stolen coins, but most likely - some people start panic selling thinking this is the end. I think everyone selling at $2,500 will regret it in the future.

[senin]

On the one hand, the legalization of South Korea by bitcoin means that the population of this country learns about its existence and will be attached to its circulation in this country. However, on the other hand, this means that the government of this country will establish its own rules and introduce various kinds of restrictions for bitcoins, as well as taxes on financial transactions with it. So, to stay in the gray zone, so that the state does not interfere with the running of bitcoin, it would probably be preferable.

[Altero]

South Korean government is in the process of legalizing this type of cyrpto currency because some of their companies are using it for their transactions. But still, there is no confirmation as of now that it is already legal. But sooner as life goes on, it will be legalize  not only in south Korea but it may happens in other countries. Digital currency is now talk and be know to everyone sooner so there is a possibility that it will happen.

[misterbigg]

This is indeed a great news, after Japan, Australia, India and now south korea..
bitcoin userbase is growing