Bitcoin ban in South Korea

[jaocoincrypto18]

I have recently heard that after China Now South Korea Ban Bitcoin too...is that truth???
 If banned then What's the future of BTC now?  

Even they both Ban the bitcoin and ICO's i don't care, because we have already surpassed the series of failed attempts of China ban and JP Morgan of criticizing bitcoin but the result is bitcoin become more stronger and stable at $4,300 with out them how much more if they just support bitcoin and invest? maybe bitcoin already reach up the speculated $5,000 for this year. So if the Korean want to join the haters let it be because it will be not our lost but their peoples lost.

[criz2fer]

The future of bitcoin in S. Korea would look pretty damn bleak.  As for the rest of the world,
it would be business as usual.  Don't know how important that country's economy is to the
rest of the globe, but I suspect if they did ban it, not much would happen.  Hell, didn't Russia
ban bitcoin?  It survived.  Bitcoin has survived all sorts of negativity and thrived in the face of
it.  Whatever S. Korea does is just kind of a passing phase.  And even if it were true, nothing
is written in stone just yet.  Most countries haven't even figured out if they're going to
regulate crypto or how to do it.  Some haven't even considered crypto at all.

Don't let it worry your pretty little head, darling.

Yes, probably it would not really affecr the world in Bitcoin trading and investment. But I think it may have some sort of effect to the other countries that it can be ban. The government of the different countries might be alarmed that they can alsp ban Bitcoin through their regulations.

And why would they do that? Because of greed and money. They may have more confidence that they could do it because other countries did it. They might see this as an opportunity to seize Bitcoin in the country for the governments wealthy benefit.

I thinks both of you got confuse. OP is only asking if Bitcoin was ban. Like China, Korea also want to be cautious on ICO's thats why they only ban ICO not the bitcoin. Unlike China which they are shutting of some of their exchange because of these scam ICO. Hope all of them will be regularized for more stable market around the cryptocurrency.

[Mometaskers]

I haven't been checking the forums these past few days and then I panicked a bit when I saw a link on the Chrome app. So I checked it and realized it's just clickbait. https://www.coindesk.com/south-korean-regulator-issues-ico-ban/  Still went here to see how people are reacting though.

On a different topic, it seems North Korea also want in on cryptos. https://www.coindesk.com/report-north-korea-targets-south-koreas-bitcoin-exchanges-cyber-attacks/

[willmunte]

I think it's a false rumor, do not worry too much about that. The BTC is still a king and will go up in the future.

[BY_ATOM]

And the Internet appeared playing against the prohibition of the ICO in China and the Young in Korea. Maybe the news is really true.

[Wesimon]

It's a bad thing that people tends to define ICO and Bitcoin as one. When there is an issue of china banning ICO, there comes also China banning bitcoin which is far different. I think it's okay if some country would ban ICO or lets say they will regulate  because of the coins being made just for money interest. It's just being wise I guess.

[Doms]

South Korea nowadays is one of the countries where a big chunk of bitcoin transactions happen. Banning bitcoin there would just be counter productive as they are only starting to embrace bitcoin for what it is. It would also have affected the price negatively but seeing that the price is steadily increasing again, seems that everything is fine and dandy in South Korea.

[SocialCloud]

You must understand the defference between ICO and Bitcoin.  Neither China nor South Korea has ban the use of Bitcoin is it just shutting down of ICO.

[Casdinyard]

It's a bad thing that people tends to define ICO and Bitcoin as one. When there is an issue of china banning ICO, there comes also China banning bitcoin which is far different. I think it's okay if some country would ban ICO or lets say they will regulate  because of the coins being made just for money interest. It's just being wise I guess.

Yeah you have a point. Bitcoin and ICO are not directly connected with each other.
Yes banning of ICO had an adverse effect in bitcoin recently but many are using this to create fuds that bitcoin will loss its value. But the sad part here is China took that opportunity to buy as much as they can and now China has huge supply of it. No wonder they're wiser as ever. And banning of ICO is just a way of getting rid of frauds hope everyone will not abuse these to make some misleading news.

[Granxis]

I do not understand that South Korea is coming to such a ban, because the character of South Korea is the opposite. Maybe it would have been true if these rumors were about North Korea, but I do not believe that South Korea will make such a ban.

[Theb]

I don't think after regulating several cryptocurrency exchanges in South Korea they will ban Bitcoin. Clearly this are rumors which I don't know where you heard it because there will be no factual basis on the news you heard. Additionally reading official news about how South Korea sees the potential of Cryptocurrency in general for its tourist visitors use as a mode of payment and for their convenience in not converting their money to Korean Won will clearly wipe off the rumor you picked off.

[Barcode_]

For your information, South Korea did not ban bitcoin, they only decided to ban ICOs crowdfunding projects in their country, I think there are just way too many ICOs scam nowadays in the market, it seems that most of the governments will start to take actions against ICOs too following China and South Korea.

[Golftech]

For your information, South Korea did not ban bitcoin, they only decided to ban ICOs crowdfunding projects in their country, I think there are just way too many ICOs scam nowadays in the market, it seems that most of the governments will start to take actions against ICOs too following China and South Korea.

They just wanted to make sure that their people will not be victimized because of the trend of bitcoin or crypto from their country and most of the scammers loves to open an ICO and attract people to invest so their government needs to create some regulations just like chinas planning to do.

[Md Saad]

I don't think that news has come from an authentic source. they have taken an initiative to regulate this virtual market but they don't even ban Bitcoin. this is ridiculous. this is really a fake news.
day By day Bitcoin is becoming a popular currency and a lot of people already got engaged with this platform. South Korean government has a tendency to take some steps in this market, they are giving an opportunity to spend Bitcoin for the Foreigners in this territory. so that this news has no authenticity.

[ProGamerJojo]

Bitcoin didn't ban in south korea as i read the news about this situation however they decided to ban ICO but don't worry because they know what they doing to fix this problem fast.

[Slark]

We don't know if South Korea may end up banning ICOs altogether. If so, then the market may go down a bit which would create a great buying opportunity.

Korea followed China and banned ICOs that is a fact - which is actually really great!
Because ICOs recently become nothing but plague and most of them are nothing but pure planned scam or scam waiting to happen when something will go wrong during the development process.
Without ICO we will have 'clearer' perspective and investors instead of rising their money on ICO will choose some older, better, and more reliable coins (i.e. BTC) to buy.

[kotajikikox]

I have recently heard that after China Now South Korea Ban Bitcoin too...is that truth???
 If banned then What's the future of BTC now?  

i think this are the same china banned the bitcoin ICO rumor of exchange mining but now i heard in the news china back again into the reality after the banning bitcoin china government are accepted again bitcoin as currency, in this situation about banned of bitcoin in korea my prediction will fixed again the problem and accept again the bitcoin in korea.

[migolmigol]

I think what they did ban is the ICO. But the existing cryptocurrency, like Bitcoin, that already is being traded in the market are not part of the ban.

[ReLieD]

Apparently all the news like Bitcoin ban , Bitcoin boycotted in so and so country is fake. All these things are just spread to make prices of Bitcoin to fall so that they can buy bitcoin at cheaper rates. But now this trick is kinda outdated as already the prices have been manipulated by JP Morgan and China. So I don't think any other country announcing that It is banning btc won't work anymore .

[ivrynx]

Is this again a way to create panic? I think people are now just doing these things, trying.to lower down the price of bitcoin, they need to do something else, there.is no truth behind this false news, south korea still has to make clarifications regardinnthe banning of ICOs, but i think they would less likely to ban bitcoin, considering they already invrested huge amounts of money just on mining alone. Hopefully this kind of news will stop, after south korea, which country are they going say that are banning bitcoins? Journalist or even common men, should stop spreading news that isn't true, bitcoin in korea is still legal, and can still be used, do not panic and sell out on fake news, we still mut wait for korea's statement and do our validation.