My theory is that the Korean Gov't said they would ban crypto so that their special interest groups could buy in at a discount after missing out on all these gains. I think that the korean Gov't eventually will back down to a certain extent.
thats it for my conspiracy theory of the day
edit: i think the Korean market will come back stronger than ever before
It isn't exactly a bad theory even though it has 0 evidence. I think it was Decentralised TV (youtube channel) that pointed out that from a study was concluded that 1/3 of Korean working class is balls deep in crypto. It would not only be economicall suicide to ban crypto, it would become a ''black saturday/sunday'' in the history of Korea as thousands, maybe hundreds of thousands of people commit suicide cause they can't bear the losses.
But they could threaten with it to cause a depression in prices briefly so they have an opportunity to step in. I really can't see such a decision actually being made, plus the general population, if 1/3 is invested would be outraged and maybe even riot and throw over the government of S-Korea. The consequences of such a ban is interesting to think about though when such a larger number of the populace is invested so deep.
I think they're taxing it now, but honestly. If I we're in government, I would probably take a similar stand as Belarus and not tax crypto as your population can only benefit from it on the longer term. Crypto right now as it is still has amazing upside potential, a population that isn't very rich compared to European countries for example could benefit enermously from it.
