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Topic: [BREAKING NEWS]: South Korea to Legalize Bitcoin!!!! (Read 4313 times)

hero member
Activity: 1426
Merit: 506
This is indeed a great news, after Japan, Australia, India and now south korea..
bitcoin userbase is growing
India hasn't really legalised bitcoin. It is not going to ban it but the government is working on a legal framework for it. Bitcoin gains will probably become taxable if bitcoin is legalised here.
Each and every country that legalizes bitcoin are looking at the monetary benefit that they could get from taxing the users and i am not that excited about all these developments but doing so might get more attention and we could see more users and companies using it and that is the only advantage i see with all these fiasco.
member
Activity: 252
Merit: 11
it is a wonderful new!!! Congratulations!
I believe Bitcoin will be more popular in korea when legalizing it
sr. member
Activity: 742
Merit: 251
This is a good news for when crypto currencies are legalize then more people would know about the coins, its uses and the potential income it would provide for them. Coins would be in demand which would increase which would be a really good news! I hope more countries would be more involved  and legalized it as well.
yes it is true because the popularity of the bitcoin is increasing day by day and the countries with some good and sensible leading and nation will accept bitcoin because they will be aware of the worth and importance of the bitcoin that could be the reason that they are legalizing bitcoin in that country  they are now trusting in bitcoin and they legalize it so I think it is very good and price worthy step for bitcoin forum as well.
legendary
Activity: 1218
Merit: 1001
This is indeed a great news, after Japan, Australia, India and now south korea..
bitcoin userbase is growing

India hasn't really legalised bitcoin. It is not going to ban it but the government is working on a legal framework for it. Bitcoin gains will probably become taxable if bitcoin is legalised here.

Indian legalisation will take another months or year.. Indian goverment being too slow in accepting digital currencies
Hoping for a better result with lesser restrictions. As we do not want to end up paying more tax on decentralized Coin
hero member
Activity: 1176
Merit: 509
Wow! This is great news! Our Oppas will now legalized Bitcoin in their country. After Japan, it is now South Korea. I hope that Philippines will be next here in South East Asia to accept Bitcoin and fully legalized it in their country. There are surely risks but I believe it is worth taking for. Because of these, there will be more demand on Bitcoin and it will surely lead to price increase.
sr. member
Activity: 1050
Merit: 277
Wasn't it always legal ? It's just now it's been recognized as a currency ? If it wasn't legal does mean it was illigal ? I find this hard to believe. I think k people use the word legal incorrectly rather often.
hero member
Activity: 742
Merit: 500
Yes,south korea has officially legalized bitcoin money transfer.It has asked bitcoin trading platforms to facilitate data processing facilities to know KYC and AML(Anti money laundering purposes).They have just followed phillipines which has legalized bitcoin remittances.Next to US and Japan,South korean bitcoin exchange market processes more global bitcoin trades.
sr. member
Activity: 1624
Merit: 261
Vave.com - Crypto Casino
It takes time to get legal from all countries, i think 2020 is the right time to get many countries that legalize bitcoin Smiley
sr. member
Activity: 322
Merit: 250
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

This news has been going around since the beginning of the month and up till now there is no official statement from the South Korean government as to when and how its going to be implemented and that's why I will maintain that news like this are only meant for speculation and I wont start believing in it until I see verifiable evidence to support such conclusion and implementation has gotten to a high level and maybe they are waiting till post August 1.
hero member
Activity: 1078
Merit: 504
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

This is great, only if they don't choke the development with too many regulations. Bitcoin will lose its essence if gets regulated and taxed heavily.

Its a good news if any of the countries try to adopt Bitcoin, it will surely give more popularization to BTC. Countries like Korea, Taiwan and China should be more attentive towards crypto as their technological advancement is high.
sr. member
Activity: 378
Merit: 250
BuyAnyLight - Blockchain LED Marketplace
Great news and it will deffinetly will affect on a price of bitcoin. Nowadays more and more countries are trying to legalize cryptocurrency, thats a good sign.
Still it is better to legalize and collect taxes, than to ban it and see people angry faces Grin
newbie
Activity: 14
Merit: 0
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

Legalisation means taxes... which is alright. at least they didn't ban it.
newbie
Activity: 14
Merit: 0
This is indeed a great news, after Japan, Australia, India and now south korea..
bitcoin userbase is growing

India hasn't really legalised bitcoin. It is not going to ban it but the government is working on a legal framework for it. Bitcoin gains will probably become taxable if bitcoin is legalised here.
newbie
Activity: 14
Merit: 0
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

This is great, only if they don't choke the development with too many regulations. Bitcoin will lose its essence if gets regulated and taxed heavily.
newbie
Activity: 14
Merit: 0
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

This is great news,indeed! Legalization will attract a lot more people to start using cryptocurrencies and hopefully, we will see a day when cryptocurrencies become as mainstream as fiat currencies. And perhaps, we might even see a time when more countries have legalised bitcoin and it becomes a sort of a universal currency. No forex required when you go to a new country. But of course,all of this is wishful thinking.
newbie
Activity: 14
Merit: 0
This hot news is currently breaking on all the wires. South Korea is on the verge of legalising Bitcoin. Fill your bags...

https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/

Updates to follow as we receive them...

While legalization is good, it also means that bitcoin will come under governmental regulations. And this is something that the crypto world doesn't want.
sr. member
Activity: 2268
Merit: 275
South Korean government is in the process of legalizing this type of cyrpto currency because some of their companies are using it for their transactions. But still, there is no confirmation as of now that it is already legal. But sooner as life goes on, it will be legalize  not only in south Korea but it may happens in other countries. Digital currency is now talk and be know to everyone sooner so there is a possibility that it will happen.
It's good news for cryptocurrency world, i'm as bitcoiner really happy to hear that. More and more country who legalizing bitcoin can make bitcoin more popular also can give other countries interest to legalize bitcoin.
full member
Activity: 406
Merit: 100
kingcasino.io
More and more country will legalize bitcoin the higher price he get maybe in the future if almost all of the country in the world will legal bitcoin the price is going up and up untill it reach to 10k or 20k or more higher than that specialy in america and europe countrys.
sr. member
Activity: 1484
Merit: 254
This is good news, because developed countries like south korea are finally legalizing bitcoin, I hope it will affect other countries, maybe one day export and import south korea can use bitcoin.
hero member
Activity: 910
Merit: 523
This has been a long back news. South Korea once after Japan's regulated use of bitcoin initiated plans within the country to legalize bitcoin. Right now it is the third market for bitcoin once after China and Japan. When South Korea starts legalized use of the bitcoin Asia market becomes more strong.

Yes, that was almost one month ago but here the update of South Korean news

https://cointelegraph.com/news/south-korea-officially-legalizes-bitcoin-huge-market-for-traders
   South Korea has officially legalized international Bitcoin transfers and is on the verge of providing a regulatory framework for Bitcoin trading platforms and exchanges
     Although the South Korean Bitcoin industry has not been fully regulated as of yet, the South Korean government officially legalized Bitcoin service providers to facilitate payments, transfers and trades.

This news becomes clearer, South Korean has moving forward with digital currency, even though the government has not yet fully regulate bitcoin but trading volume on South Korean exchanges has been increasing. Like Op said, fill your bags.
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