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Author Topic: [2017-12-30] South Korea Not Ruling Out ‘Shutdown’ of Bitcoin Exchanges in the F  (Read 26 times)
BitcoinArsenal
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December 30, 2017, 02:05:34 PM
 #1

South Korea Not Ruling Out ‘Shutdown’ of Bitcoin Exchanges in the Future: Govt Official
South Korea is not banning bitcoin, but a top government official says that regulators “will consider” shutting down cryptocurrency exchanges in the future if proposed regulations fail to cool off what they consider to be “irrationally overheated” markets in the county.
Full article on CNN.com
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December 30, 2017, 02:30:46 PM
 #2

I think the government official is trying to talk and calm down the market. A lot of people may decide to exit the market because of the official's remarks and then the government will achieve its objective of calming exuberance, without actually taking any action. Such motivated leaks and statements are a common tactic in other countries as well.


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meer45
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December 30, 2017, 02:50:54 PM
 #3

Recently, I've read a lot of news about university students in Korea gathering after school to talk about cryptocurrencies and investing in them. I think the government is concerned that this might get out of hand, so they are not ruling out the shutdown of exchanges, but they want to have that option just in case. So I think this statement is not necessarily negative.

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December 30, 2017, 02:55:03 PM
 #4

Well, I always knew that South Korea was actually a corrupt country run by filthy oligarchs. Fortunately there's still its democratic northern neighbour with its fabulous leader who almost won the Time Person of the Year award. Perhaps we should all move there and help them with their ceaseless effort to mine/hack/steal/make as much bitcoin as possible. Smiley
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