There's a lot of FUD (Fear, Uncertainty, and Doubt) about a ban on all cryptocurrency trading in South Korea today.
Many news agencies wrote about the police and tax authorities raiding offices from Bitcoin exchanges, but this hasn't been confirmed and seems nothing more than just rumors. Tax authorities have friendly visited some exchanges recently, but this is nothing unusual.
South Korea has a booming blockchain industry and I don't expect the government would harm this new and promising sector. The volume on South Korean cryptocurrency exchange markets is already higher than the volume on the country's main stock market. Would they ban this market? Think rationally! South Korea is not China. Protecting investors has a high priority though.
What we know is that the South Korean government is trying to ban anonymous trading accounts and prevent money laundering. There is no ban on crypto currency in South Korea right now and exchanges are all operating as usual.
Everything else is just FUD. South Korea is NOT banning cryptocurrencies! Don't believe the fake news from the mainstream media and do not sell your coins for a low price. Perhaps the South Korean government bought the dip today ;-)
This will be a good news to help the crypto market go up in the next few days. The market is going down now is a bad thing for all traders and investors. Many news agencies wrote about the police and tax authorities raiding offices from Bitcoin exchanges, but this hasn't been confirmed and seems nothing more than just rumors. Tax authorities have friendly visited some exchanges recently, but this is nothing unusual.
South Korea has a booming blockchain industry and I don't expect the government would harm this new and promising sector. The volume on South Korean cryptocurrency exchange markets is already higher than the volume on the country's main stock market. Would they ban this market? Think rationally! South Korea is not China. Protecting investors has a high priority though.
What we know is that the South Korean government is trying to ban anonymous trading accounts and prevent money laundering. There is no ban on crypto currency in South Korea right now and exchanges are all operating as usual.
Everything else is just FUD. South Korea is NOT banning cryptocurrencies! Don't believe the fake news from the mainstream media and do not sell your coins for a low price. Perhaps the South Korean government bought the dip today ;-)