Good news!

[ehrz22]

https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/?utm_source=dlvr.it&utm_medium=facebook

Hey guys good news here. Hope this will affect bitcoin price and it will grow up. What do you think?

Well, yeah it's a good news. I hope this will make the price of btc up again. And I also hope china will check this and apply in their country. This will benefit legit traders of btc in korea. I also hope many positive news will come so that the price of bitcoin will continue to rise.

[germansupremacy]

Good first step to keep cryptocurrencies flowing into the real world. I believe if established companies are earning very large profits using cryptos then is completely fine to have them regulated and taxing. The governments don't want this free-will at a corporate level and I agree with that, otherwise centralization exists and becomes invisible... Hope it still makes it easy for the people, South Koreans have a hard time trading and withdrawing their funds, hope this changes too.

[digaran]

I will wait for at least a month for the new merit system to take place and reflect on ranking up to see if threads would grow so fast. having to give your personal information to be able to trade with Bitcoin is regulating the exchange of Bitcoin or crypto currencies.
While the rest of the world are making money with Bitcoin trading without any need for a decentralized currency, me and my terrorist buddies are using this pumps and dumps to get more money to build nuclear bombs and drop them on you all.
I don't think this could pump the price more than $500.

[Kprawn]

Just a quick question : They say, " Investors will now be required to convert their virtual bank accounts to real-name bank

accounts in order to continue trading." --- Are these virtual accounts those Bank accounts that people open for a day and

then close them again? <Commonly used to buy something online and then to close it?> or bank-issued dummy current

accounts that replace current physical accounts and instantly route payments and collections to a linked “master” current

account?

I can understand if they want to reduce money laundering by stopping people from creating temporary "virtual" accounts, but

if this is done to identify "Crypto" owners, then it is a whole other story. Bitcoin has to be pseudo anonymous to protect your

wealth. <We are dealing with people's financial matters on a PUBLIC Blockchain> 

[Reid]

https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/?utm_source=dlvr.it&utm_medium=facebook

Hey guys good news here. Hope this will affect bitcoin price and it will grow up. What do you think?

I think korea really trying to manipulate the people who are using bitcoin or any other cryptocurrency. In this way they can manage to see all the transaction that their people made and they can easily put some tax on their transaction, well anyways, I think it's still a good news because they will not ban trading anymore in their country.

Is that really a good news?
Where is the decentralized thing of bitcoin now?
If every transaction made is being seen then it is not any different with banks anymore.
Why use bitcoin then? Why not just banks instead.
It is a good news with bad news if you think it thoroughly.

[rappydoo]

another good news is that we people of this lifetime will get to witness more amazing transition in terms of technological advancement, blockchain was a very powerful technology, and this could be use as a concept to a lot of more better and powerful potential tech in the.future.

[nicko122]

I thought that the ban would not last long. But now you need a full registration for accounting.

[dvillier]

That is nice to read. I certainly hope the market will recover because of this good news. I have been on this for a while that I observed when there is a negative news about bitcoin it is gravely affected and vice versa. but if bitcoin price drops the alts drops too and if btc price goes up the alts goes down too. So if you have some crypto now other than bitcoin I suggest you get out for a while.

[smith4cris]

The price of bitcoin is going to downfall and have sign is rising. I hope The price of bitcoin won't downward . I am holding so much bitcoin  

Good for you. Just hold to your Bitcoin. There was a time when Bitcoin value was very low that it was almost next to nothing, then again we have it around $10,000 and even $20,000 a Bitcoin. This is indeed a good news although the tax rate is really high. Can the taxes be paid in Cryptocurrencies as well? This is their government trying to regulate bitcoin. Its better than having Bitcoin banned. Good luck to us.

[mOgliE]

Hi,

Did you read the article carefully?

This is not a good news. The South Korean government is actually trying to make crypto more used (that's right, that's good) by turning it non-anonymous and control it through banks. They even say that revenus from such source will be taxed at a 24.2% rate.

Does it sound good to you?

I think that South Korea and its government are a step ahead of other countries regarding crypto. But if such regulation was to be adopted in all countries, it would be the end of bitcoin as it was designed in the first place, that is to say as a new financial system, aiming at getting rid of banks. It will merely turn to a trading tool.  

[Mpamaegbu]

Yes, this should be a glad tidings to the Koreans but I don't think it is necessarily a great news for the global Bitcoin community. Whether there is a liberal acceptance of bitcoin by them or not, Bitcoin price will always rebound at the right time. By the way, Korea isn't that a great economy like China. Yet, when China banned its citizens from participating in bitcoin activities Bitcoin still survived it and recorded a fresh ATH after. I am really nonchalant towards what the Koreans legislation is on Bitcoin.

[dothebeats]

Isn't this done already through KYC regulations? With this kind of new implementation, I don't think it's a 'yay' for traders who want to keep anonymous on using their crypto. This is just a workaround or their (South Korean Government) legal means of controlling their people's money. Frankly this doesn't solve anything apart from the lessening of fraud which is the only thing this new implementation fixes, and it seems that the South Korean government wouldn't be a bitcoin-friendly state even in the months to come.

[TOTOARRO]

Great initial step to keep cryptographic forms of money streaming into this present reality. I accept if set up organizations are winning extensive benefits utilizing cryptos at that point is totally fine to have them directed and exhausting. The legislatures don't need this through and through freedom at a corporate level and I concur with that, generally centralization exists and winds up plainly imperceptible... Seek despite everything it makes it simple after the general population, South Koreans experience serious difficulties exchanging and pulling back their assets, trust this progressions as well.

[captin crunch]

https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/?utm_source=dlvr.it&utm_medium=facebook

Hey guys good news here. Hope this will affect bitcoin price and it will grow up. What do you think?

I think korea really trying to manipulate the people who are using bitcoin or any other cryptocurrency. In this way they can manage to see all the transaction that their people made and they can easily put some tax on their transaction, well anyways, I think it's still a good news because they will not ban trading anymore in their country.

Yes requirement to make transactions or trade with real name is for the reason to control and to tax I think, but any way it is better than banning at all.

[google98]

That's good news, yes. Hopefully, that turns things up and the rise of Bitcoin begins.
Although today the whole market is red. Still, there are good news.

[TranTrongit]

yes. it is good news. its great. price btc will up .

[batang_bitcoin]

https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/?utm_source=dlvr.it&utm_medium=facebook

Hey guys good news here. Hope this will affect bitcoin price and it will grow up. What do you think?

Even it has some restrictions, still a great news for the South Koreans that are dealt with cryptocurrencies. But I can see some disadvantages on this,

1. It says that virtual banks to real-name bank accounts - in regards to being decentralized and anonymous, users can no longer hide their identity.
2. Taxation will be implemented accordingly.

Advantages
1. South Korea FUD will be gone.
2. Massive pump.
3. Legality can be followed by other countries as well.

Restrictions are made to let people know that government still exist. Yes there are rules to be followed and if people obey, then that will be good for cryptocurrency since it will be legalized by government like for example in korea. Though the government will take taxes but it will be for the people in their country as well.

We are there and each government is showing that they mustn't be ignored even the cryptocurrency craze is starting to be well known and popular. But not all of their decisions are good for the people, there are situations that they are only thinking inside the box and not outside the box. But overall rating for this news, very well that South Koreans will be involving the whole world into another pump just like what the Japanese did last year.

[retnoanjani]

https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/?utm_source=dlvr.it&utm_medium=facebook

Hey guys good news here. Hope this will affect bitcoin price and it will grow up. What do you think?

Even it has some restrictions, still a great news for the South Koreans that are dealt with cryptocurrencies. But I can see some disadvantages on this,

1. It says that virtual banks to real-name bank accounts - in regards to being decentralized and anonymous, users can no longer hide their identity.
2. Taxation will be implemented accordingly.

Advantages
1. South Korea FUD will be gone.
2. Massive pump.
3. Legality can be followed by other countries as well.

Restrictions are made to let people know that government still exist. Yes there are rules to be followed and if people obey, then that will be good for cryptocurrency since it will be legalized by government like for example in korea. Though the government will take taxes but it will be for the people in their country as well.

We are there and each government is showing that they mustn't be ignored even the cryptocurrency craze is starting to be well known and popular. But not all of their decisions are good for the people, there are situations that they are only thinking inside the box and not outside the box. But overall rating for this news, very well that South Koreans will be involving the whole world into another pump just like what the Japanese did last year.

That is the authority of each government. I'm sure it has gone through a lot of considerations. All policies are for the people and the country. The government is aware of the many benefits of cryptocurrency, but they also need to keep the state and people from the negative impact of cryptocurrency, so the government sets limits as a prefentive action.

[zhinaivan]

Wow it is a good news because bitcoin have potential to getting higher next month and many people in korea have more to known about cryptocurrencies world coins most specially bitcoin.i wish that many country doing like korea country

[Reatim]

Wow it is a good news because bitcoin have potential to getting higher next month and many people in korea have more to known about cryptocurrencies world coins most specially bitcoin.i wish that many country doing like korea country

South Korea is really a big player not just in bitcoin and crypto in total. This news is really positive to the market, however the catch is that South Korean traders will have their name exposed to the banks so its no longer the psuedo anonymity.

But we can't be for certain that countries will follow what South Korea has been doing. They have put a tighter and strict regulations as far as trading is concern. Other countries want a total ban.

I like though what South Korean government did here, instead of a total ban, they will let their people trade as long as they will follow the rules that they laid out. Still a win-win for us and for the government.