South Korea trading ban

[t1Zona]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

[melamiras]

Yep, that is right. Just think of it as a relatively small / medium size country in which people are crazy about cryptos but at the end of the day they are not wealthier than let´s say, Japanese people.

[melamiras]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

 Oh really... then you should consider the USA, which in theory is a free economy and tells the rest of the world that they should follow their example and all that... and then has incredible restriction on who can invest or not.

[Kemarit]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

 Oh really... then you should consider the USA, which in theory is a free economy and tells the rest of the world that they should follow their example and all that... and then has incredible restriction on who can invest or not.

I think you guys need to read this:

https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says

So the government of South Korea has released a official statement that they are not banning bitcoin and cryptocurrency trading. So stop those FUD. And if I may quote the spokesman:

“The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments. While there certainly exists a negative reputation attached to the cryptocurrencies, the government’s stance is to allow what has to be allowed, for the benefit of the South Korean market.”

So there you are. They will not ban, however I believed that stricter framework will be imposed very soon. At least though, it will still allowed South Koreans to trade and enjoy crypto for the time being. As they have been the #1 in terms of trading volumes per 24 hours. No need to fuel this FUD again.

[t1Zona]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

 Oh really... then you should consider the USA, which in theory is a free economy and tells the rest of the world that they should follow their example and all that... and then has incredible restriction on who can invest or not.

I think you guys need to read this:

https://cointelegraph.com/news/official-no-cryptocurrency-trading-ban-in-south-korea-government-says

So the government of South Korea has released a official statement that they are not banning bitcoin and cryptocurrency trading. So stop those FUD. And if I may quote the spokesman:

“The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments. While there certainly exists a negative reputation attached to the cryptocurrencies, the government’s stance is to allow what has to be allowed, for the benefit of the South Korean market.”

So there you are. They will not ban, however I believed that stricter framework will be imposed very soon. At least though, it will still allowed South Koreans to trade and enjoy crypto for the time being. As they have been the #1 in terms of trading volumes per 24 hours. No need to fuel this FUD again.

Well, it's just what I wanted to explain, that no worries about this last korean FUD. What I do expect is a bit of regulation during 2018, not only in Korea but in many countries, and depending on which counties there'lll be a really strong rules (and also some bannings) but not in countries like Korea. At least is what I hope.
On the other hand also some regulations in USA that allows in one way or another to invest in ICOs like (almost) the rest of world.

[Sum24]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

Bitcoin don’t care about any ban because it’s not a first experience for bitcoin it happen before with bitcoin and bitcoin is now meatier and understand the situation what to do and how to do because I remember when china ban bitcoin so nothing happen to bitcoin after china Indonesia also ban bitcoin but bitcoin fight against them and now everyone know where is bitcoin standing because there is a very big support to bitcoin by some rich countries.

[gentlemand]

This guy's been a consistent source. It's fairly clear something will be hammered out.

https://twitter.com/iamjosephyoung/status/952432420946460672

https://twitter.com/iamjosephyoung/status/952210177591160834

https://twitter.com/iamjosephyoung/status/952209744395038720

https://twitter.com/iamjosephyoung/status/952183566531612676

'Bans' are a little bit harder when people aren't afraid to moan and the politicians might get voted out for pissing them off.

[KobeBriant 24]

It was an incredible FUD, and a lot of people sold all their cryptos because of this, it was very unfair.. they were never looking to ban trading or just shutting down exchanges, it all was a lie to make bitcoin and other cryptos go down.

[SheepSuit]

It was an incredible FUD, and a lot of people sold all their cryptos because of this, it was very unfair.. they were never looking to ban trading or just shutting down exchanges, it all was a lie to make bitcoin and other cryptos go down.

They have confirmed today that they are not banning crypto trading.

[arpon11]

I also ready some were that the government is trying to regulate cryptocurrencies and not outright ban of exchange platform. I believe people doing this business there are they people and banning exchangers is going to make them lose a lot of their investment. If the drop in bitcoin price is due to that it then means that what we experienced with China last September is going to repeat itself again do I believe that bitcoin is going to bance back.

[rizkyhiw]

“There are great concerns regarding virtual currencies and [the] justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” justice minister Park Sang-ki said.[1]
News of the ban follows the raiding of local cryptocurrency exchanges by police and tax authorities over alleged tax evasion, as one of the key nations driving the demand for bitcoin and other virtual currencies attempts a clampdown.[2]

The value of bitcoin plunged 13.5% in the early hours of Thursday after news hit that South Korea is planning to ban cryptocurrency trading.[3]
Do you think the price will lose more?



Source of news : https://www.theguardian.com/technology/2018/jan/11/bitcoin-drops-value-south-korea-trading-ban-cryptocurrencies-tax-gambling

They punish for anyone who trades there, this is bad for bitcoin same like china time forbids bitcoin in the country.
Bitcoin prices in South Korea fell 21% to 18.3 million won or $17,064.53. In addition, bitcoin prices also dropped 10% in Luxembourg to $13,199, having earlier dropped to the lowest level of $13,120.
You can see it yesterday, prices are soaring down significantly. Maybe, it will not be long. Today the bitcoin starts creeping up again.

[maxxdxx]

I'm sure all the media outlets will still manage to put deceitful headlines about this causing massive panic as well. By Easter they will consider banning and not banning at least 50 more times.

[leopard2]

from the looks of it, the SK government risks being banned by SK people

excellent

crypto is turning sheeple into people again 

[Granxis]

Nobody knows exactly why South Korea is making this decision, I think the Eastern asian countries are trying to launch a war against Bitcoin. We are looking forward to more decisive steps than Japan.

[Voice]

Any news on this?
Everything's falling deeper and deeper.

[batang_bitcoin]

Any news on this?
Everything's falling deeper and deeper.

It's not a real one, it's only a FUD. Crypto ban isn't finalized on SK https://www.coinspeaker.com/2018/01/11/reports-coming-south-korea-causes-fud-cryptocurrency-ban-not-finalized/

Nobody knows exactly why South Korea is making this decision, I think the Eastern asian countries are trying to launch a war against Bitcoin. We are looking forward to more decisive steps than Japan.

I have read someone on twitter I don't know if he's working for a crypto media company and he has a friend who's on crypto too in SK and his friend verified that there's no ban.

[entrepmind23]

South Korea ban is the new China ban since it is one of the factors that makes the price of bitcoin go down. This is the time again when those who are in crypto just recently would be able to taste the negative side of crypto since we are so joyous in late 2017 because the portfolio are in green and now we can see blood all over it. For the people who can remember the past years, China always say they would ban crypto and then other people ride it out and make the price go down which makes some people sell off their coins and then after a while, it reach all time high again. History repeats itself but they have a new strategy now since China is not that effective anymore.

[burner2014]

Any news on this?
Everything's falling deeper and deeper.

It's not a real one, it's only a FUD. Crypto ban isn't finalized on SK https://www.coinspeaker.com/2018/01/11/reports-coming-south-korea-causes-fud-cryptocurrency-ban-not-finalized/

Nobody knows exactly why South Korea is making this decision, I think the Eastern asian countries are trying to launch a war against Bitcoin. We are looking forward to more decisive steps than Japan.

I have read someone on twitter I don't know if he's working for a crypto media company and he has a friend who's on crypto too in SK and his friend verified that there's no ban.

Maybe just like China government reason they don't want this kind of opportunity to enter in their country because it is like a bad scheme as to them, and it will just imbalance the countries economy, so for me they know what is right for their country so we just have to respect them, for sure they will know the truth and the missed out opportunity.

[batang_bitcoin]

Any news on this?
Everything's falling deeper and deeper.

It's not a real one, it's only a FUD. Crypto ban isn't finalized on SK https://www.coinspeaker.com/2018/01/11/reports-coming-south-korea-causes-fud-cryptocurrency-ban-not-finalized/

Nobody knows exactly why South Korea is making this decision, I think the Eastern asian countries are trying to launch a war against Bitcoin. We are looking forward to more decisive steps than Japan.

I have read someone on twitter I don't know if he's working for a crypto media company and he has a friend who's on crypto too in SK and his friend verified that there's no ban.

Maybe just like China government reason they don't want this kind of opportunity to enter in their country because it is like a bad scheme as to them, and it will just imbalance the countries economy, so for me they know what is right for their country so we just have to respect them, for sure they will know the truth and the missed out opportunity.

No, there is still no glance or idea if they are supporting crypto or not. Don't lead everything and let's just see on what will happen. They are aware what bitcoin is and if that is sort of a bad scheme to them from the very beginning they would stopped their people and warn from touching or having it. You are assuming that they have already answer with it?

[Harper6]

After chineses FUD now it's time for korean FUD. I think that all the money the korean exchanges are doing is better for Korea, so, I expect just a little bit of regulation, but I doubt they ban totally bitcoin or exchanges.
Also I expect more freedom to choose what to do with your money in Korea than in China.

Nothing will happen to bitcoin because bitcoin is very strong and stable in market and day by day its price is going high and it will survive for ever because there is a very big support to bitcoin and that’s why bitcoin stop care of any ban because in past bitcoin faced such a ban and still bitcoin price is very high and I’m sure these countries will join again bitcoin because bitcoin is good for every one and it is helping in economy of any country.