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Topic: I heard a weird news, Korean government going to ban Crypto currency exchanges? - page 2. (Read 453 times)

full member
Activity: 280
Merit: 101
from what i heard they are still discussing that option, and it's not the first or the last time a country try to ban crypto.
bitcoin and altcoins are designed to be out of goverments hands and that's what I like about it.

why do you something that out from government hand? i think you dont want to pay tax or you hate with your government.
however, in corrupt government like my country, sometime i also like to be out from my government but not always.
newbie
Activity: 84
Merit: 0
Right from the start I think this is a false news, later confirmed my guess is correct, it is a false news, it is to do so in order to help some people to obtain higher profits
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Here’s a picture of the Bithumb exchange after the raid:



Here’s the same exchange before the raid:



LOL
member
Activity: 546
Merit: 12
Correction again. That's not a fake news , its on all news channels..

member
Activity: 546
Merit: 12
Appears it was fake news. One guy in government said Korea will ban trading, but then clarifications seemingly came out that said they are just going after exchanges that aren't complying to their regulations or paying all the taxes. Not a ban at all, Korea is just making crypto trading regulated and enforcing those new laws.


The ban FUD will be around for a few days and then we should see a pump back up a couple thousand dollars when the fake news gets put to bed. Of course it doesn't help that tons of outlets ran with the story from a single person saying a ban is coming. But price should be back up in a few days.

If it is not a ban on Crypto trading thats fine. But that's how news spread everywhere on reputed medias. No wonder why BTC going down with this situation. Hope for the best. Crypto hurts many people who control the world right now. I know they want to stop this if the crypto became a threat for them.
hero member
Activity: 2240
Merit: 848
Appears it was fake news. One guy in government said Korea will ban trading, but then clarifications seemingly came out that said they are just going after exchanges that aren't complying to their regulations or paying all the taxes. Not a ban at all, Korea is just making crypto trading regulated and enforcing those new laws.


The ban FUD will be around for a few days and then we should see a pump back up a couple thousand dollars when the fake news gets put to bed. Of course it doesn't help that tons of outlets ran with the story from a single person saying a ban is coming. But price should be back up in a few days.
member
Activity: 266
Merit: 13
I thought this one was the reason why btc fall because it turned out to be fake news. Any idea why btc fall then?

Because of this news. It's not strictly "fake", just misreported, and in any case a story doesn't have to be true to cause a sell off.  When you have no fundamentals and only technical analysis and sentiment to guide trading, any rumor or news has a substantial impact.
newbie
Activity: 164
Merit: 0
Anyway, the ban was announced only by the Ministry of Justice. Seems other Ministries position regarding this question differs from this statement.
Thus it is not likely that Korea will ban cryptocurrency exchange. However it seems that they are going to regulate it.
sr. member
Activity: 476
Merit: 359
Well for me, until I heard an official news from south Korean government, I wouldn't care or believe in this kind of news.
News have a power to cause instability in a market, and bitcoin market too. It will cause a lot of chaos to the user and maybe most of them will do some panic selling, especially all the bitcoiners in the south korea, and in the news i have read that they interview korean bitcoiner and some already sold their bitcoin.
I hope south korea wont ban bitcoin. Because if this is just an act of manipulation, then there will be more big whales who catch the opportunity to seize a big amount of bitcoin.
hero member
Activity: 756
Merit: 500
Another news that is going to cause a lot of people to dump their Bitcoins into exchanges and sell them off and help the price drop even more.
The governments have always been insecure from cryptocurrencies, specially Bitcoin, and such actions are expected for sure. The statement where they said that the people trading in exchanges should use their real names as a lot of anonymous trading is being done clearly proves that they want to know the people behind the money and have control over their economy which Bitcoin doesn't allow them to do, and as we always finish the things that are out of our control and somehow personally harmful for us, they are trying to do the same with Bitcoin.
sr. member
Activity: 644
Merit: 259
CryptoTalk.Org - Get Paid for every Post!
i think bitcoin and cryptocurrency is not matured enough . these ban hammers will continue and crypto will suffer temperately but eventually will be mature enough to resist any fud and will be immune at the point we can truly say decentralized currency is the future of new money
Well its a new market and i really don't understand the reason for the crackdown though the so called justice minister claim that cryptocurrencies are giving the government great concern but they haven't specifically said what the concern is about. But they are planning on banning exchanges but not the cryptocurrencies themselves.
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
Oh sorry guys, I am the publisher of this post, I just got to know this is a fake news. I just got exited..I heard Whales spread such news in order to buy at dip with the help of  panic sellers..  Huh Huh

When you copy paste something add the source!!!!!!
https://www.cnbc.com/2018/01/10/south-korea-official-reportedly-readying-bill-to-ban-all-cryptocurrency-trading.html

this is funny because it was "China is going to ban bitcoin" all these years and then they finally closed down exchanges and the same month bitcoin went to $4000 and then followed it up by reaching higher and higher and finally the ~$20,000 ATH.
 and this time it is "Korea is going to ban bitcoin" and people are still panic selling their bitcoins into the pockets of the whales at the bottom to make them richer.

Korea could ban whatever they want.
I've always said that all the happiness of seeing the fake numbers of Okcoin and huobi was washed away because we ended up with bithumb.
And I'm willing to bet that if there is going to be an inquiry, it will turn out they've faked everything.

But I don't give a damn.
It's going to be just another proof that what it matters for BTC is the western world.
The rest are insignificant. Just how China turned out to be.


Well its a new market and i really don't understand the reason for the crackdown though the so called justice minister claim that cryptocurrencies are giving the government great concern but they haven't specifically said what the concern is about. But they are planning on banning exchanges but not the cryptocurrencies themselves.

Read the article!!!!!!
Quote
That news from the justice minister comes after the country's largest cryptocurrency exchanges were raided by police and tax agencies this week for alleged tax evasion, people familiar with the investigation told Reuters.

legendary
Activity: 1344
Merit: 1251
Hi,

Actually, if you read carefully, you realize that this decision is being discussed... Which does not mean that the ban will be adopted.

Indeed, this can seem worrying as you remind that South Korea has a special place regarding bitcoin and its community... Though, how can they do that?

If the direct exchange is banned, then people will just go through other currencies... Unless the government wishes to make exchanges from won to dollar and dollar to won illegal, they cannot prevent South Korean from using crypto-currencies. It will take longer and be more expensive but it may only slow the process, not end it.

At least this is what I think! Roll Eyes
jr. member
Activity: 76
Merit: 1
i think bitcoin and cryptocurrency is not matured enough . these ban hammers will continue and crypto will suffer temperately but eventually will be mature enough to resist any fud and will be immune at the point we can truly say decentralized currency is the future of new money
newbie
Activity: 25
Merit: 0
Oh sorry guys, I am the publisher of this post, I just got to know this is a fake news. I just got exited..I heard Whales spread such news in order to buy at dip with the help of  panic sellers..  Huh Huh

Lucky for you, you have realized that. Well, for those who have been here for a long time and totally knows the cryptoworld. This news wouldn't bother them much. As we can see, whales have been manipulating panic sellers through news outlet.
newbie
Activity: 33
Merit: 0
Very excited to see how things turn out this year with a very good mix of very positive but also negative news. But overall I still think it is not about the price but the ever-growing adoption and creation of better blockchain technology that will serve the world well. Of course, prices may crash but if ever crypto becomes the next .com thing then inevitably prices will still go up at the end of the day
hero member
Activity: 1470
Merit: 655
this is funny because it was "China is going to ban bitcoin" all these years and then they finally closed down exchanges and the same month bitcoin went to $4000 and then followed it up by reaching higher and higher and finally the ~$20,000 ATH.

 and this time it is "Korea is going to ban bitcoin" and people are still panic selling their bitcoins into the pockets of the whales at the bottom to make them richer.
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