South Korea government plans to identify all the users of exchanges.

[Don Pedro Dinero]

Another step into regulation and preventing anonymity:

https://www.bloomberg.com/news/articles/2017-12-28/bitcoin-drops-as-south-korea-says-exchange-closures-are-possible

“South Korea will require real-name cryptocurrency transactions and impose a ban on the offering of virtual accounts by banks to crypto-exchanges, according to a statement from the Office for Government Policy Coordination.”

It seems this have push down crypto markets as well. I think we are going to have more of this kind of regulations in 2018 and we have to be prepared for that, the day when you will be able to spend your cryptos directly from your paper or hardware wallet is still very far away.

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[jseverson]

That's pretty huge. I do agree that we're very likely to see more news like this in the near future. The Coinbase ruling set a dangerous precedent, and it does look like other countries are going to follow suit pretty soon.

What's sad about this though, is that it doesn't look like South Korea is even open to Bitcoin as a whole. They aren't passing regulations to establish a degree of control, they're doing it to directly stifle demand. Drastic, but what can you do? At least a complete ban doesn't seem to be in the talks.

[audaciousbeing]

Another step into regulation and preventing anonymity:

https://www.bloomberg.com/news/articles/2017-12-28/bitcoin-drops-as-south-korea-says-exchange-closures-are-possible

“South Korea will require real-name cryptocurrency transactions and impose a ban on the offering of virtual accounts by banks to crypto-exchanges, according to a statement from the Office for Government Policy Coordination.”

It seems this have push down crypto markets as well. I think we are going to have more of this kind of regulations in 2018 and we have to be prepared for that, the day when you will be able to spend your cryptos directly from your paper or hardware wallet is still very far away.

Regulations in 2018 is going to take a real turn with several countries and exchange sites having to fall in line of other major sites that have already implemented this policy and its very simple to do. Anyone who still thinks this won't happen all over should either start having a rethink, or better still look for something else because this has come to stay.

Its actually a form of acceptance from government in that they have realised, we can only accommodate and regulate within the confines of our powers as banning will not be the right approach which then gives quite a number of people the opportunity to be proud in engaging in cryptocurrency. Brace up people its a win-win for all parties.

[davis196]

This is the price that we have to pay for a world mass bitcoin adoption.
If we want mass btc adoption,it`s obvious that we have to sacrifice all the anonymouty of transactions and users.
I`m not suprised by this news and we shouldn`t complain that much about it.
I`m sure that some cryptocurrencies and some exchange platforms will stay in the shadows and refuse to comply with these rules.

[HabBear]

It seems this have push down crypto markets as well. I think we are going to have more of this kind of regulations in 2018 and we have to be prepared for that, the day when you will be able to spend your cryptos directly from your paper or hardware wallet is still very far away.

Wow, welcome to the 21st Century. Terrorism, man, it's global and it's led to this shit. If you didn't know we'd have "to be prepared for that" then you were living under a rock. What? You thought this was going to be a "global currency" without this sort of know your customer type rules?

The only way cryptocurrencies survive is if they can coexist with the laws and regulations that exist around the world.

the day when you will be able to spend your cryptos directly from your paper or hardware wallet is still very far away.

And no, it's not fare away. It's here. It's called a bitcoin debit card. You can buy whatever the fuck you want and pay for it directly from your bitcoin wallet. If you want details, PM me or use this really cool new thing called Google.

[Don Pedro Dinero]

It seems this have push down crypto markets as well. I think we are going to have more of this kind of regulations in 2018 and we have to be prepared for that, the day when you will be able to spend your cryptos directly from your paper or hardware wallet is still very far away.

Wow, welcome to the 21st Century. Terrorism, man, it's global and it's led to this shit. If you didn't know we'd have "to be prepared for that" then you were living under a rock. What? You thought this was going to be a "global currency" without this sort of know your customer type rules?

The only way cryptocurrencies survive is if they can coexist with the laws and regulations that exist around the world.

No. I haven’t been living under a rock and I’ve been defending that since I joined this forum

And no, it's not fare away. It's here. It's called a bitcoin debit card. You can buy whatever the fuck you want and pay for it directly from your bitcoin wallet. If you want details, PM me or use this really cool new thing called Google.

Apart from having bad manners, you are a fucking liar. You don’t pay anything directly because bitcoin is converted into fiat. If you want more details you can PM me or use this cool thing called Google which you seem to not know it existed.