Will South Korea become the World Bitcoin Special Zone?

[Malam90]

South Korea is the leading example of the world for crypto world and is the heaven of the present crypto after banned Chaina. South Korea shows the world how to be habituated with cryptocurrencies.

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[samuraijin]

Not 1 or 2 from Asian countries who want to open transactions through bitcoin, even in parts of the world there are many landmarks that give access to bitcoin to grow there, and recently Indonesia has cooperated with Japan to develop bitcoin in Indonesia, so we just wait bitcoin in the years to come, it is possible that all countries will accept the existence of bitcoin ...

[gilangIDR]

Gov’t of South Korea is Endorsing Crypto and Blockchain Like No Other Region

South Korea is leading an example of being the world’s most hospitable regions for crypto and blockchain entrepreneurs. The world’s eleventh-largest economy has committed a $100 million fund to develop its capital Seoul as a center of blockchain innovation. Park Won-soon, the third-time governor of Seoul, during his visit to Switzerland’s Zug last week, revealed that...

https://www.trackcoinmarket.com/en/crypto-news/32399/govt-south-korea-endorsing-crypto-blockchain-region

I feel jealous of people who live in South Korea. I must admit that Bitcoin is very developed in South Korea. This is because the government fully supports the implementation of crypto in the financial system in the country. This is very different from most other countries, there are still many countries that are still not open. But I am sure that if this can be developed much better, more countries will be able to accept and apply crypto systems in their countries.

[Kprawn]

Honestly, my money is on Japan.  

Remember, Blockchain technology is not necccesarily Bitcoin, so these guys might be creating the next competition for Bitcoin

and they might ditch Bitcoin for this technology. Japan already shown that it accepts Bitcoin as a currency, so we know they

will support it.  

In August the South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin

exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized

businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies.  

Source : https://news.bitcoin.com/

[pitiflin]

I will sincerely exclude China from the list you have mentioned. Any crypto enthusiasts know that China is not at all open to embrace cryptocurrencies within their economy. China is the first country to ban ICO (even though I support that), but later they kept on cracking the crypto market within their country. They imposed tariffs on the electricity for crypto mining firms. They are not at all crypto friendly.

However, I will agree with the other two as Japan is the first country in the world to legalize crypto currency and distributed licenses to open crypto exchanges on their soil. Now South Korea is following the footsteps of Japan.

China is dying(not really but still). I don't know what South Korea is trying to prove,like another user said, they were involved in FUD and bullshit, and now spending a 100 million $ on blockchain development is shady at the very least.

South Korea definitely won't become the World Bitcoin Special Zone, Japan has more chances for it, if the World Bitcoin Special Zone is even a thing. Honestly this doesn't even matter,right now.

[fanji]

Gov’t of South Korea is Endorsing Crypto and Blockchain Like No Other Region

South Korea is leading an example of being the world’s most hospitable regions for crypto and blockchain entrepreneurs. The world’s eleventh-largest economy has committed a $100 million fund to develop its capital Seoul as a center of blockchain innovation. Park Won-soon, the third-time governor of Seoul, during his visit to Switzerland’s Zug last week, revealed that...

https://www.trackcoinmarket.com/en/crypto-news/32399/govt-south-korea-endorsing-crypto-blockchain-region

South Korea's country is not the only paradise for Crypto entrepreneurs , you can see In Singapore, cryptocurrency exchanges and trading are legal, and the city-state has taken a friendlier position on the issue than regional neighbors. Although cryptocurrencies are not considered a legal tender, Singapore’s tax authority treats Bitcoins as ‘goods’ and so applies Goods and Services Tax (Singapore’s version of Value Added Tax).

[mintomia199]

I think it is a wise decision from  South Korea. This kind of news will effect in crypto currency price. I believe in future many country get motivation on how to habituate crypto in their countries.

[Rana590]

It is absolutely a great news for bitcoin. Also it is a good sign for bitcoin. Day by day most of the country are using bitcoin as legally. Hopefully within few years every country will accept it.

[Ucy]

Such World's Bitcoin/Crypto Zone (whether it exists in real or virtual world) should be well decentralized Zone. None exists yet as far as I can tell.
The current model of building decentralized Cryptocurency on Nations with leaders or central leadership is not a good thing for Cryptocurency.

[project_delta]

Gov’t of South Korea is Endorsing Crypto and Blockchain Like No Other Region

South Korea is leading an example of being the world’s most hospitable regions for crypto and blockchain entrepreneurs. The world’s eleventh-largest economy has committed a $100 million fund to develop its capital Seoul as a center of blockchain innovation. Park Won-soon, the third-time governor of Seoul, during his visit to Switzerland’s Zug last week, revealed that...

https://www.trackcoinmarket.com/en/crypto-news/32399/govt-south-korea-endorsing-crypto-blockchain-region

This is all good but they need strict regulations to avoid frauds.And I have read the news that they are moving in that direction.I have seen the south Korean being tech savvy and I guess they are on the top for crypto related or blockchain related startups.If only everyone moves in that direction!

[karman383]

First I want to say that I was happy with the news of this fresh breeze. Cryptocurrency should be a change for the economic system for the future. I give applause to South Korea, this will make opportunities for South Korea more than just a very developed country.
Thank you very much..

[labenea]

this had previously happened in Japan, but they had difficulties in implementing business globally. Then South Korea emerged with government renewal and enthusiasm for bitcoin. they open themselves to evolving crypto innovations, even though they haven't yet legalized it, but it seems they want to be at the forefront of the balance of crypto volumes in the Asian region.

Japan has legalized bitcoin but is still busy with domestic concentration, while China is still baffling even though btc miners and large volume markets are in their countries, they have difficulty regulating comfortable regulations. South Korea wants to cover both more elegantly and in a more congruent manner.

[BitcoinHodler]

South Korea should get in line!
there are already a couple of other countries that are so much bigger than them in cryptocurrency front and there are even more  countries that are trying to get there and become bigger but they have already started the journey not like them trying to still make up their mind about what to do next.

[dablatair]

Hello,

Even with difficult start due to blockage by government, Korean people are fan of new technologies and crypto. I really think that they could grow very quickly towards the opposite means crypto country. they will probably be at the top of these countries for example with malta.

[bitfocus]

Possible, very much possible as South Korea's government is very enthusiastic about Blockchain and Crypto.