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Topic: [BREAKING NEWS]: South Korea to Legalize Bitcoin!!!! - page 7. (Read 4398 times)

sr. member
Activity: 980
Merit: 255
If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.
The fact they created that task force, does not mean they are going to succeed, governments can create as many regulations as they like but that does not mean they will be able to track the users, I do not know the policies of exchanges in South Korea but I guess someone could take the right precautions to avoid disclosing your identity.
newbie
Activity: 5
Merit: 0
That is hot damn news ! We should litterally fill our bags before a totally irrational pump happens. For me it is Japan that fueled the last pump, and now a new one could occur, even more bigger than the previous one, because South Korea has for me more potential than Japan.
hero member
Activity: 887
Merit: 516
Bitcoin OG

What about North Korea? Haha all kidding aside - they're busy counterfeiting U.S dollar bills (that are very hard to detect by the way). That's good on South Korea making these great moves for blockchain adoption. Bitcoin to the moon!
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
After massive bitcoin trading activity in South Korea to the point where bitcoin price in South Korea exchange is higher than other exchange, it's no surprise South Korea government will take action.
As usual, it's good to see certain country legalize bitcoin, but i'm not very happy since all cryptocurrency users will be watched by government (no problem for investor though).
legendary
Activity: 2576
Merit: 1655
After massive bitcoin trading activity in South Korea to the point where bitcoin price in South Korea exchange is higher than other exchange, it's no surprise South Korea government will take action.
As usual, it's good to see certain country legalize bitcoin, but i'm not very happy since all cryptocurrency users will be watched by government (no problem for investor though).

Correct. Trading volumes in South Korea is very high and their was a time the their is 100$ more premium bitcoin in their exchanges. So its no surprise that they are heading to legalization of it in their country. This will bring a positive news to the crypto market specially bitcoin. Let's observe how this pans out.
hero member
Activity: 700
Merit: 500
I have said this a few times in the past, but  wanted to make my point again.

The other countries have many different sets of laws. The USA usually it is assumed we can do something until it is made illegal(as long as we aren't hurting anyone mos tpeople assume this).

In other countries most average people will not do something unless it is already defined as being legal. They don't take the chance, because in those countries where a law isn't already written you can still get into legal trouble due to it NOTbeing define.

This is a great thing to have happened.
full member
Activity: 223
Merit: 100
If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.

I think this could be positive because it could attract investors to bitcoin. If people see bitcoin as accepted by their government, they will probably not be worried about it failing. I can see you point that it can be partly negative news, but I also see the upside to this announcement.
legendary
Activity: 1470
Merit: 1079
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...

Wow, it looks like Asian countries are on a march to regulate bitcoin. In the last two years bitcoin worth 1.92 trillion Won was traded in South Korea. I guess with such a big trading volume the catalyst for Korean government's decision to regulate bitcoin is:

Quote
The possibility of wreaking havoc on national economy from digital currency bubble burst.

Electronic Financial Transactions Act, income and corporate tax thus preventing tax evasion and boosting transparency.

Quote
The government will push for the systemization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries.

Guess a price surge is on the way.
hero member
Activity: 1148
Merit: 504
This is another country added to the list of wanting to legalize bitcoin. I wonder how effective they could be on trying to track those who evade tax through bitcoin or cryptocurrencies. I think it will be a challenge to korean government to do so.
member
Activity: 84
Merit: 10
Lol @ all of these [BREAKING NEWS] clickbait titles recently. At least they are usually interesting.
legendary
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
If you were to actually go ahead and read this entire thing you'd see that everyone who uses these cryptocurrencies are now going to be under the view of them the government and open to regulation, this isn't something that we want in the least. I'd rather be in a gray area when it comes to where my business is rather then them being able to just go right ahead and tax my crypto and my business into oblivion.

They even made a cryptocurrency / digital currency task force which is simply going to be able to impose regulations on us, this is a horrible day for us.
legendary
Activity: 2184
Merit: 1024
Vave.com - Crypto Casino
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...
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