Korea is getting ready to ban cryptocurrency trading. ruh roh

[anggriani]

For everyone worried about the south korean news, it's all FUD. The bill was dispelled a few days ago, mainstream media just picked it up.
https://www.ccn.com/south-korean-ministry-of-finance-does-not-support-cryptocurrency-trading-ban/

With the recent south korea cryptocurrency trading ban fiasco, I hope many investors realize the deception mainstream media offers on a daily basis.

[jakiro.hovard]

Many countries now are very timid about crypto-currencies, because they can actually spoil the economic situation in the country, I think this action is not right, because it is necessary to recognize the crypto currency, it already exists and it does not escape from it

[cryptofunn]

another rumor, as was the case with China, the manipulation of the market. Pretty successful, because the market has corrected. I think that this was the hand of "big money" that opened futures for short

[vvvttts]

I hope people are all aware that pretty much all the western news articles regarding this so called BAN, are coming from one single source? that being Reuters.

Sounds pretty fishy to me, or just bad journolism or maybe a combination of both.

There has been talk in the air about korean regulation since December, nothing has changed now.

[saiteja01]

http://www.businessinsider.com/cryptocurrency-market-plunges-after-reported-crypto-exchange-raid-2018-1

The market for digital coins was under intense pressure Thursday morning amid reports that South Korea had a bill in the works to ban cryptocurrency trading.

"South Korea's justice minister said on Thursday the ministry is preparing a bill to ban cryptocurrency trading through its exchanges," Reuters reported.

That news was on the heels of a report that authorities were raiding cryptocurrency exchanges in the country.

“A few officials from the National Tax Service raided our office this week,” an representative of Coinone, a South Korean crypto exchange, told Reuters.

more at the link...

No this may be a fake news. This is only to check about the company input and outputs like scams..etc

[NaissuR]

it was just a FUD as confirmed no one bans crypto in korea =]

[vastmast]

I feel very sorry for those who live korea. They face obstacles in every issue. They can not live in freedom they want.
Investing and doing trade is very normal stuff. They break the reputation of the crypto money world  

[NaissuR]

I feel very sorry for those who live korea. They face obstacles in every issue. They can not live in freedom they want.
Investing and doing trade is very normal stuff. They break the reputation of the crypto money world  

dont take false news to seriously my friend

[Doctor.Strange]

its a FUD

[qazgroup]

I think they are not banning, they want to regulate it by registering exchanges and traders i think it is the typical move bu the government to extract taxes from markets.

[mstfprcn]

who believes this fuckin FUD's.it si fully misunderstanding, for future, some recent regulations will be oocur, but today, its full FUD, stay strong and hodllll.

[hasmukh_rawal]

The last time I read the news about them, Koreans had been selling crypto currencies at higher prices on their exchanges. So there is something fishy with this news and I believe as the other say it is a FUD. Even if the news was true I wouldn't give a shit about it.
Koreans hold about 5% - 10% of the total market share in crypto and banning crypto currencies in Korea would result in about 10% of price drop in cryptos. It would certainly not make any big difference since there will be many others to buy cryptos at cheaper price.

[Bonus777]

Another injection of information to lower the price of bitcoin. See someone need to buy. Do not prohibit Korea's trade in crypto-currencies. Just in the market the next manipulation.

[kryptqnick]

It's funny how the English articles are all talking about outright bans when the Korean articles just say that he's trying to write a law to prevent "speculation and gambling on exchanges."
In any case, it will take some time for them to draft a law and we will see if it can even happen.

Exactly. South Korea is kind of a democratic country and Koreans are really strong in trading. They can make a big difference for bitcoin cash, ripple and cause some change to bitcoin. I don't think the government can just stop all that. And besides, bitfinex is one of the biggest exchanges. They should make a small (1% in KRW) taxation from the income of exchange owners and everyone will be happy. Attempts to close it will result in huge amounts of money being moved from the state and intellectuals being angry.

[lighpulsar07]

The article is very misleading the south korea is just preparing for a bill that regulates cryptocurrency trading which is not a bad thing for the government and it's citizen and besides, according to news articles i read online, the bill was trashed few days ago but they will still run after to anonymous exchanges. Stop spreading FUD about banning cryptocurrency trading in south korea.

[minbosen]

The article is very misleading the south korea is just preparing for a bill that regulates cryptocurrency trading which is not a bad thing for the government and it's citizen and besides, according to news articles i read online, the bill was trashed few days ago but they will still run after to anonymous exchanges. Stop spreading FUD about banning cryptocurrency trading in south korea.

I have read somewhere that more than 30% of korea citizens are trading crypto coins, so I think the government will not ban the trading, or there will be very bad effection in my opinion.

[shaun98]

No this is just FUD. If you go to Joseph Yeung's profile on Twitter, he has dismissed these reports and even said the Justice Minister of South Korea should be fired from his post.

[bartolo]

Those FUD reports on bitcoin and cryptocurrencies are not casual, I mean, there is not a wrong understanding of the original news but an intentional FUD. We know the media is owned by corporations and big enterprises, for them is very easy to use their media to spread FUD and buy cheap coins

[DonaldTramponald]

It is impossible to say about the benefits or harm of such news. For beginners, the market decline is to panic and signal that you need to sell everything. For more experienced investors signal to buy. Anyway, such news will appear periodically and shake the exchange more than once, and this should be ready. (Remember the China in the fall of 2017).
In my opinion the market decline is temporary and is created specifically in order to the big players could purchase at a low price.

[drogas]

Even though the article in the OP is misleading, I'm glad it's got people woke and paying attention to what's going on in the rest of the world.

I think banning cryptocurrency trading would be a huge mistake, yet, some countries have already done so. Though, then again, it would be pretty hard to completely ban crypto trading.