Is it true that it is said that South Korea will close many trading platforms in

[davis196]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

Unfortunately South Korea is becoming more hostile towards the cryptocurrency trading platforms,but the intention of the South Korean authorities is to protect the investors.
The fact the many trading platforms will be closed in South Korea doesn't mean that the people,who have money on these trading platforms will lose everything.I'm sure that the South Korean crypto traders will be allowed to withdraw their coins,before the trading platforms shut down.
I guess that you will have to use foreign crypto exchange platforms in order to trade cryptocurrencies,especially if you are located in South Korea

[Lucius]

Looks like the news was fake as 14th is already passed on and market is behaving just right.

If by any chance you read post number 3 then you would understand that the date stated by OP (September 14) does not matter - it is September 24. 2021. which is mentioned in the news as the deadline for all crypto exchanges in South Korea to register their business according to all currently applicable laws and rules. From my perspective, this should not be bad news - because it is not about any ban on trading and the like, but only about bringing order to the crypto market.

[samcrypto]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

It's already September 16, have you heard about those Platforms being closed by the Korean government? if none then this is a clear FUD where whales are creating such fuds to create panic and make the market a lot more cheaper.

Anyway, reading some news about South Korea regulation to exchanges I believe that's September 24 and they are not literally closing the platforms because they are just requiring them to submit the requirements being asked and register their platform to operate legally and there's nothing to worry about this one because it can actually protect their own citizen and gain the trust of the public if they operate legally.

[LUCKMCFLY]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

Excuse me, where did you find that kind of news? I think that this news may have been given by pure market manipulation, it is possible, although I am always very aware of many news platforms and I have not seen something similar, however I know that in South Korea, there is a lot of P2P negotiation, and Many of these negotiations are not reflected in the volume of BTC, at least CMC does not cover some of them, and it is for this reason that the volume of BTC is not consolidated.

My advice is that you do not pay much attention to that, at the moment there are many countries studying the possibility of accepting and adopting BTC, they cannot go against the global economic tide, South Korea would lose a lot if it does something like that.

[checkmatesir]

I had checked earlier in the internet as well as hear from some of my friends that it is a fake news because South Korea is one the most technological strong country and the trading in South Korea is increasing as well, but may be there are some situations through which they had done something wrong, i don't even think that.

[stompix]

I had checked earlier in the internet as well as hear from some of my friends that it is a fake news because

because you actually checked shit...
https://www.ft.com/content/dccac69e-9ebe-468a-b089-4f40d77d5a80

“A situation similar to a bank run is expected near the deadline as investors can’t cash out of their holdings of ‘alt-coins’ listed only on small exchanges,” said Lee Chul-yi, head of Foblgate, a mid-sized exchange. “They will find themselves suddenly poor. I wonder if regulators can handle the side-effects.”
“Huge investor losses are expected with trading suspended and assets frozen at many small exchanges as customer protection will not likely be the priority of those exchanges facing an imminent closure,” said Cho Yeon-haeng, president of Korea Finance Consumer Federation.

Excuse me, where did you find that kind of news?

Have you actually tried typing two worlds in google? Not that hard!
https://www.coindesk.com/markets/2021/08/17/lines-crypto-exchange-to-cease-activity-in-south-korea-ahead-of-regulatory-deadline-report/
https://www.coindesk.com/markets/2021/09/13/south-koreas-registration-deadline-for-crypto-exchanges-could-erase-26b-in-assets-ft/

It's already September 16, have you heard about those Platforms being closed by the Korean government? if none then this is a clear FUD

No, it means you're living in a bubble where everything that you don't like is FUD.

Why do you doubt something that is a clear factual situation?

Still standing by your opinion about "most" users doing a bit of research before posting? 

[bamb]

I don't know if it is true that South Korea will close Cryptocurrency exchange but what I do know is that a Cryptocurrency exchange that I use regularly which is based in South Korea sent me an email advising that I withdraw all my asset from the exchange as they have been instructed by the government to close down their exchange! I think in every rumour,  there is an iota of truth!

[Natalim]

I don't know if it is true that South Korea will close Cryptocurrency exchange but what I do know is that a Cryptocurrency exchange that I use regularly which is based in South Korea sent me an email advising that I withdraw all my asset from the exchange as they have been instructed by the government to close down their exchange! I think in every rumour,  there is an iota of truth!

This news is definitely legit. South Korea requires all crypto exchanges to acquire a license from Financial Intelligence Unit because this is part of the country's regulation. And will also have to partner with banks to continue their operation. But based on the news, it seems that only 28 out of 66 identified crypto exchanges meet the requirements for a license so most likely, those smaller crypto exchanges who don't have the license will be closed. And this news might totally saddened all the crypto traders in South Korea.

[Lucius]

Still standing by your opinion about "most" users doing a bit of research before posting? 

If you are referring to this part of my post :

Sometimes they are, but if we take just this forum as an example, then it is more than clear that most still do not practice two basic things - the first is to check some news from multiple sources, and the second is to read posts written by someone before you, so that you can draw a conclusion from all this.

I thought most didn't actually read anything but the title, maybe the first and last post at best. This thread is more than a good example of how difficult it is to have a quality discussion, because after all that has been written, most believe that it is still fake news.


In a week we will know what the consequences of this decision will be, but I believe that there will be no major disturbances in the crypto market.

[kramchers]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

Those you heard about cryptocurrency are mostly just an opinion or it could be a piece of fake news. Well, in fact, this country was one of the crypto enthusiasts actually, because they have a lot of local exchange in which they had made were so far a lot of traders using it now. Try to make a research about it.

[Mahanton]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

Dont let easily make yourself do fall on those fuds because this is something which is common here thats why everything should really be having some sort of in depth research because not all news could be true
and if you do make yourself do react and make out some take profit or panic sell then it will really be just an unfortunate situation since the market hadnt really reacted as well.Also i dont believe that S. Korea
would be closing out trading platforms and just like others been saying that it is rather to be positive than on being negative towards crypto market and come to think off that if China
had failed out on dumping the market then all of countries will really be just the same in case.

[Viscore]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

Dont let easily make yourself do fall on those fuds because this is something which is common here thats why everything should really be having some sort of in depth research because not all news could be true
and if you do make yourself do react and make out some take profit or panic sell then it will really be just an unfortunate situation since the market hadnt really reacted as well.Also i dont believe that S. Korea
would be closing out trading platforms and just like others been saying that it is rather to be positive than on being negative towards crypto market and come to think off that if China
had failed out on dumping the market then all of countries will really be just the same in case.

Well, you have to start believing because South Korea is definitely closing those crypto exchanges that cannot meet the requirements to acquire a license. And i don't see this in a negative way because even if South Korea tighten their country's regulation, this is all just for the security of the traders' accounts. So even if there will only be few exchanges left, it does not really matter, at least we know they are more legit and more reliable.

[dimonstration]

Those you heard about cryptocurrency are mostly just an opinion or it could be a piece of fake news. Well, in fact, this country was one of the crypto enthusiasts actually, because they have a lot of local exchange in which they had made were so far a lot of traders using it now. Try to make a research about it.

There are many news about ahutting down platforms who will not meet their requirements, try searching it in google it’s all over the news now and it can be a good sign so that only few platforms that purely provide legit service can comply, there are too many platforms already but we all knew that what we need is just 1 or 2 that already do the task well as well the one who truly shows been best for traders.

[Silberman]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

You need to understand that social media is full of false information to try to make people sell their coins and make the price dump, however this can easily be countered by doing something simple, do not use social media to try to obtain information about the markets, think about this, how is it possible that such people know what it will happen in the future? Do you think they have insider information? And even if they did, do you think they will share it with anyone? So stop worrying about stuff like that as the only outcomes you will get out of them are all negative for you.

[Ziskinberg]

You need to understand that social media is full of false information to try to make people sell their coins and make the price dump, however this can easily be countered by doing something simple, do not use social media to try to obtain information about the markets, think about this, how is it possible that such people know what it will happen in the future? Do you think they have insider information? And even if they did, do you think they will share it with anyone? So stop worrying about stuff like that as the only outcomes you will get out of them are all negative for you.

Okay, let's say that social media is full of false information but this update https://atozmarkets.com/news/fsc-in-south-korea-will-shut-down-more-than-60-crypto-exchanges/? I don't think so. Maybe you should have to read that.

SK is really serious about this issue, with that number of exchanges forced to shut down if they never comply with the said requirements that something is alarming now. This must not be taken ignore, exchanger's owners would take action before it expires otherwise they'll stop doing business.

[Hippocrypto]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

If you think it's a fake news, then we need to have a fact checking on this article my friend. Nowadays, there's a lot of black ideas came from different sectors around the globe, because cryptocurrency business was raging millions of money involved. With south korea, there's a lot of biggest investors who kept seeking their advantage in terms of cryptocurrency investment. They still tried to dig deeper for bitcoin and wanted a cheaper price and start buying back.

[molsewid]

I had checked earlier in the internet as well as hear from some of my friends that it is a fake news because South Korea is one the most technological strong country and the trading in South Korea is increasing as well, but may be there are some situations through which they had done something wrong, i don't even think that.

I think it is not a fake news but instead what the thread means of South Korea closing many trading platforms has a good intention by the way which I believe it would not going to affect negatively the crypto market. The said shut down on crypto exchanges is for the operators to meet the stringent new rules from the country’s financial watchdog. Giving a time for all the exchanges operating in South Korea to
obtain licenses from financial and internet regulators. It means the government of South Korea wanted to make a legal transaction between crypto exchanges to protect the investors.

[tbct_mt2]

When people ask questions about ban, close of trading platforms, the answer is different.

Upbit became the first cryptocurrency exchange in South Korea approved by the government to follow FATF's guide.

Upbit is the first approved exchange but this achievement means South Korean government opens to approve exchanges that follow their guide. They don't have reasons to close crypto trading exchanges for whatever reasons.

[Ryker1]

When people ask questions about ban, close of trading platforms, the answer is different.

Upbit became the first cryptocurrency exchange in South Korea approved by the government to follow FATF's guide.

Upbit is the first approved exchange but this achievement means South Korean government opens to approve exchanges that follow their guide. They don't have reasons to close crypto trading exchanges for whatever reasons.

Well perhaps they have banned those exchanges platforms that do not have regulated by them, we know that this country is very strict when it comes to the policy and most especially when it comes money laundering. As I say, the banking system dont have restrictions on crypto but besides they enforcing people to register on an exchange using their real name and should always complete KYC. Perhaps as long as you will follow the country's guidelines your platform is safe.

[Chrystora123]

I have always received a lot of negative news these days. Everyone says that I don’t buy too much in September，It seems reasonable.
Some people say that there will be huge bad news on September 14.
Some people say that South Korea will close many trading platforms in September.
I don’t know if it’s a fake news from some black media? What do you think?

fud to destroy the reputation of crypto is countless, see that the information you get is not true.  to reduce your worries, you can refrain from buying while paying attention to the trend of market movements and then buying when the price drops..