Bitcoin ban in South Korea

[Rabby637]

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?  

[AT101ET]

South Korea did not ban Bitcoin. They recently however decided to ban ICOs. This doesn't come as much of a surprise seeing that ICOs are unregulated but in truth aren't really different to IPOs. Plenty of new coins were being developed overnight and trying to maximise on the profits they could raise from ICOs so in truth it was probably a smart move.

[senne]

There is a big difference between shutting down of ICO and ban on Bitcoin. Everyone is going crazy after the news came from South Korea that that they will shut down the ICO, but most of the people think that then Bitcoin is also put to ban in the two countries. Neither China nor South Korea has ban the use of Bitcoin is it just shutting down of ICO

[Hasbro27]

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?  

which I read from the news that south korea saving ICO and use crypto currancy for sale. and also Singapore. and singapore banks are forbidden to serve crypto money. This usually affects the reduction of bitcoin prices.

[rebel92]

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.

[Pearls Before Swine]

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.

[muncuss]

They ban ICO (and margin trading? from what i read). I didn't see down price, mean it's good (what they did is really good i think). Cryptocurrency will have healthier grow, no scam ICO stealing people money.
Then, will Japan ban ICO too?

[seanskie18]

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.

[pginvest]

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?  

South Korea are trying to regulate the market, the first rumors were a ban, then it emerged that they were taking a more measured approach. Their action apparently was triggered by 2 events, the first was growing concern that many regular people were getting scammed by unscrupulous ICO's and the second was a hacking attempt by North Korea - the target was a Bitcoin heist. I haven't heard whether they were successful or not.

[DoublerHunter]

I can say that it is all FUD like in China, they are just trying to get the price of bitcoin to a lower price and if you read some articles or news before, they already legalized bitcoin and that is why the price of bitcoin goes up from the past months and if you will have a good thinking, then you will not believe in banning bitcoin in south korea.

[jets567]

So the south koreans want a shopping spree too?, Let's wait for the Oct. 10 and see the bulls run. I don't believe that china doesn't wanna a single piece of the cryto, given in any place when a person shouts "MONEY" the chinese chinky eyes turned ito Owl's eye all of a sudden.

[GreenBits]

This is a touch fuddish

They didnt ban any specific coin, just the creation and operation of initial coin offerings. And only domestic ones at that, I dont remember reading guidance about citizens not being able to participate in foreign ICOs (most likely they made a scam warning). Not sure if they will shutter exchanges like China, but at the least they will most likely improve the AML/KYC reporting requirements (an essential if you are dealing with money on this scale, esp across borders). This is unfortunate, but a required growing pain that we must endure.

We will be better for it

[xhomerx10]

So the south koreans want a shopping spree too?, Let's wait for the Oct. 10 and see the bulls run. I don't believe that china doesn't wanna a single piece of the cryto, given in any place when a person shouts "MONEY" the chinese chinky eyes turned ito Owl's eye all of a sudden.

[Renji Abarai]

I can say that it is all FUD like in China, they are just trying to get the price of bitcoin to a lower price and if you read some articles or news before, they already legalized bitcoin and that is why the price of bitcoin goes up from the past months and if you will have a good thinking, then you will not believe in banning bitcoin in south korea.

I think Korea is regulating it and not banning the bitcoin. I read that someone buys Korbit one of the leading exchanges there. I agree that same with China it creates confusion. What is being ban in China is the ICO's... I think the keyword here is "regulate".

[drm]

Banning or restricting ico's doesn't mean banning bitcoin.
China hasn't banned bitcoin, and I doubt Korea will ban btc.

[jseverson]

South Korea did not ban Bitcoins. They banned ICOs. People should really know the difference.

The article I read also stated that they were only banning local ICOs. ICOs outside South Korea should still be fair game. They probably just want to stop their own people from running scams in the form of ICOs. It's very likely that this will be a temporary ban, for just until they plug up enough holes. It does not deserve the sensationalism it gets.

[ngefek berat]

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?  

If the question of banning in korea I also do not really know the right information but until that happens will make the bitcoiner more difficult to find ico program later. I hope this news is just nonsense to try to unsettle people.

[Rabby637]

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?  

If the question of banning in korea I also do not really know the right information but until that happens will make the bitcoiner more difficult to find ico program later. I hope this news is just nonsense to try to unsettle people.

Hope so i just know about this matter in social media

[lottery248]

as far as i know in the news, they just banned the ICOs inside the country, due to unregulated risks letting chances for scammers to rip the consumers away. if bitcoin is literally banned in south Korea, then they would probably be criticized with the freedom removal.

[franco123]

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.