Is this good news?

[sotovid]

nderstand that the news does not affect the market, because the low number of people, the glass is half empty, there are whales here.

[ShadowBits]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

We don't know that yet, but I guess Governments will have less problems with crypto if they just try to regulate it for the better and for people to use it in a good way.

[NikNikKomarov]

Yes, this is very good news. Any such news can increase the chances of cryptocurrency recovery. I hope that in 2019, the cryptocurrency will reach a new level.

[usawa0]

I think that's great news. But of course there are nuances. Possible pitfalls.

[Moeda]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

Yes, this will bring confidence to cryptocurrency, but this will give birth to government regulations in its use. But the question is the extent to which the government is able to control this problem, because the use of cryptocurrency is anonymous.

[zemper]

I think in any case in the future the cryptosystem will be regulated. Unfortunately, without this in any way. Everywhere where you can earn, everything sooner or later falls into the government.

[hongus]

This is not bad news. Of course she is not significantly. It may affect investors in this region. In any case, it is good.

[bitcoinVPSD]

I do not think this has a big impact on the value of bitcoin. The Korean government is moving towards the development of bitcoin that is closely monitored by government regulations. But I think this is not good for bitcoin development, bitcoin will grow well and need no regulations from the government.

[tomahawk9]

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

For now, neither. This is just an union voicing their opinion about what needs to be done about the blockchain industry and how it needs a regulatory framework. Depending on how the korean govt reacts to this, we can discuss whether it will encourage people to invest in the cryptocurrency market or not. But knowing how pro-crypto South Korea is, I would expect some positive news in the upcoming days or weeks about this whole thing.

Is it good news? Well, it is good that even the South Korean lawyers are making an effort to help establish a regulatory framework in the market with help from the govt.

[Thomas-s]

I do not think this has a big impact on the value of bitcoin. The Korean government is moving towards the development of bitcoin that is closely monitored by government regulations. But I think this is not good for bitcoin development, bitcoin will grow well and need no regulations from the government.

I agree. Bitcoin doesn't need a government! The main task of Bitcoin and its property is decentralization. We all want to be free of anyone and also we want our funds are only under our control and in safety. So i think Bitcoin will live without government decisions.

[Bitcoinjheta]

Well, for me this is a good news if the governments breaks the preceptions and hesitation which helps the development of blockchain industries in there country. If they think this is the only why of making there industries more convennient easy and fast transaction for paying bills to the merchants.

[trofim21]

I think that in a couple of years the state will legalize cryptocurrency, since there is no need to deny the fact that cryptocurrency will significantly improve life for many, and it is very convenient to make payments

[slightmoon]

We can't decide what's good or bad news. Except we saw effect in the market. Many times even fake news also runs the market down also. Just we need to ready for good moment.  

[AndRE177]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

This is a common desire to get legislators to establish norms and frameworks for innovation, which is the cryptocurrency market.

[Holla123]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

The centralized exchanges could be somewhat more regulated. Few I trust apart from Binance and Cobinhood. In general I am only interested in regulation and instruments that enables "institutional" investors to enter the blockchain market.

[ityandsyn]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

       What ever the motive of this government at least they are talking about cryptocurrency  and that's means they consider cryptocurrency in their country , it may have big impact in their country so let's just hope a positive output of this activity since this will results maybe an adaptation by a government .

[keanne_isaac]

“We urge the government to break away from negative perceptions and hesitation, and draw up bills to help develop the blockchain industry and prevent side effects involving cryptocurrencies.” - Korean Bar Association

Will this encourage trust and investment or its just a way to bring crypto under surveillance and regulations?

The statement only shows that different types of business are embracing crypto currency worldwide and this only making the price of bitcoin in particular to be more attractive to investors and in due time it would surge unstoppable.

[qtronix]

I also believe that this was most likely done to attract new investments. This kind of news cant be considered significant, I do not think that they can affect the market.

[magicrypto]

Do you really think that "Korean Bar Association" can make any impact on cryptomarket or Korean government?! Much more bigger news about crypto came in last months, but market doesnt react at all, it is very bearish right now.

[youdacapt]

The news will not have an impact on the market because we need greater regulation to drive market prices, maybe now blockchain is considered normal and not special so with articles like that only considered nonsense, then what can push the market back to shine of course we need more many regulations are given by many countries so that the volume on the market increases and if that happens then prices will rise.