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Author Topic: South Korea Announces Crypto Traders Could Face Fines Under New System -A Ploy ?  (Read 48 times)
shawn7235
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January 14, 2018, 03:06:17 PM
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"South Korea Announces Crypto Traders Could Face Fines Under New System" - Source - Bitcoin news


What exactly is the S.K Govt, trying to do! With so much of mileage and following, S.K as got in the entire Cryptocurrency space. The Govt's stance on the entire issue, is actually very baffling and truly appalling.

We need to address these kind of issues, which frankly is something which manipulates the entire market, a ploy probably to crash markets !

1) The authenticity of the News needs to be verified to the T.
 
2) The relevance of the news and the ramifications on the psyche of a poor new investor, who possibly is looking forward to break the shackles of the conventional Banking system.

3)which country is next in queue?

4) How can we work around this?

Looking for long term solutions, by which the entire crypto community can think out loud.


Viva la Crypto
Shawn
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shaun98
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January 14, 2018, 04:56:32 PM
 #2

Just so you know, that is merely FUD. South Korea has made it official that there is absolutely no ban on cryptocurrencies in the country as of this moment.

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January 14, 2018, 06:41:11 PM
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They are only increasing regulation, not banning bitcoin, just like how China went hard on ICOs. Did you see them ban bitcoins now? With South Korea there's the additional concern that bitcoins could be getting funneled from exchanges into North Korea while China's excuse was capital flight.

<|°_°|>
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January 14, 2018, 11:52:17 PM
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2) The relevance of the news and the ramifications on the psyche of a poor new investor, who possibly is looking forward to break the shackles of the conventional Banking system.

....

There's a chance that the crypto ban is an attempt to keep capital inside south korea's borders. China's ban may have been motivated by the same reasons. Its possible the proposed ban has nothing to do with crypto and is merely their states attempt to keep investment money inside their borders, rather than have that funding withdrawn and taken into other countries, which has spelled doom for asian economies in the past.

I like your point on #2. The plight of the poor investor is one well worth considering. It is known that china's 1 child per couple policy only pertains to the poor. The wealthy can have as much children as they like. The same might be said about crypto currency fines and bans. They only apply to the poor. The wealthy likely have ways of getting around them. Your point about "breaking the shackles of the conventional banking system" could be quite relevent here.

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January 15, 2018, 01:31:32 AM
 #5

Just so you know, that is merely FUD. South Korea has made it official that there is absolutely no ban on cryptocurrencies in the country as of this moment.

People will spread FUD as far as they can, they'll do it so they can make a quick buck and run off with the proceeds. It's something which is going to continue in this space until we hit the point where we're not being manipulated by whales and we actually have good news sources that aren't being paid off left and right to make some traders money.

All FAKE NEWS.




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shawn7235
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January 15, 2018, 06:12:35 AM
 #6

My thoughts, would be to have super mods who are regionally based right across the globe, and people actually use this forum to know what news is genuine and what is not.

Also, this would increase public awareness, and in turn strengthen the entire crypto community as a whole. (just thinking out loud)

The main reason, of me voicing this, is cause I feel this forum has the reach, and such things can easily be executed.

My critical reasoning being, if a common investor makes money off crypto trading then the Govt. taxes him (possibly), but if he loses his money on a scam coin, the Govt wont tax him.

Coming back to the point, of whether this news being a FUD or not, it certainly swayed quite an opinion, not that I can give you numbers.

Viva la Crypto
Shawn
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