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Author Topic: [2018-01-14] South Korea’s Cryptocurrency Fiasco is Fueling a Political Conflict  (Read 21 times)
BitcoinArsenal
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January 14, 2018, 12:44:52 PM
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The controversial decision of Justice Ministry head Park Sang-ki to release a premature and false statement on a potential cryptocurrency trading ban has fueled a political conflict between the current administration and other opposition parties. Full article on CNN
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January 14, 2018, 01:49:59 PM
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Problem is that there are the hidden agenda motives of those who benefit from spreading such statements, which might even turn out to be political related after all. It basically fits in the category of insider trading and market manipulation, which in both cases are severe offences, and especially from high level entities being institutions, political figures, etc. I however can't say that I am shocked about this, mainly because of the fact that there is so much money involved, that we should expect these things to happen on a regular basis. Bitcoin's market by far isn't as severely regulated as stock markets for example, which grants those behind the scene enough freedom and low overall risk to abuse their position in order to get this market to move in their preferred direction. Jamie Dimon and his "Bitcoin is a fraud" statement is the perfect example of that. Let them figure out what is going on there, and we can focus on further growth.

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