South Korea Parliament Legalizes Crypto

antsam

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Quote from: Teraboy on March 10, 2020, 11:46:14 PM

Quote from: antsam on March 10, 2020, 09:33:22 PM

South Korea has long been a big market for Crypto, many large and good exchanges they have. With the existence of this legality will increasingly provide certainty for the crypto business in this country

This country is not strictly prohibited the operation of crypto on its own country and that's not a big surprise if crypto will be legalized. We know that if crypto can be another alternative to the stock market.
Rather than blame this and it's better for thos parliament to liegalize crypto and take the advantage.

Yes from the very beginning they were very open with crypto proving they were open with new technology and seeing huge market opportunities that they could exploit.

Quote from: samcrypto on March 11, 2020, 02:16:48 AM

There's already the adoption even before this legalization but before there's a lot of exchanges that is not secured for them so I expect this regulation can tighten the security of the exchanges and can help secure the interest of the public. South Korea is doing their best to adopt cryptocurrency, with all the challenges that we have right now I just hope for more countries to adopt. I'm waiting for my own country to make the legal statement about cryptocurrency adoption, it will be big if this thing happen soon.

I think they have long been implementing registered exchanges by government agencies and they are very protective of their people and there are already many registered exchange exchanges in this country. May all countries imitate the steps of South Korea

Chuky92

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Quote from: mamamu111 on March 10, 2020, 06:40:25 AM

South Korea followed the footsteps of India in terms of legalizing cryptocurrency trading and holding after passing a new amendment.

READ THE COMPLETE ARTICLE BELOW.... https://worldpublicityblog.com/index.php/2020/03/09/south-korea-parliament-legalizes-crypto/

First was India and now South Korea which have a good number of crypto users. This is really good and encouraging because unlike in the past where blockchain and crypto isn't regarded but nowadays countries are seeing the need to adopt it thus making their citizens to fully enjoy what others have been enjoying without unnecessary restrictions. This also shows that prior to contrary opinion, blockchain and therefore cryptocurrencies has come to stay and it won't take much time for other countries with restrictions to lift to, legalize it and start seeing the opportunities it offers.

Goodvalony

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Another big news is out already. the first was India, Now it is south Korea. More countries will follow suit. gradually, crypto currencies is getting toward main stream and it might change a lot of tings as we forge ahead. the more crypto is been legalized and accepted, the more it is gaining more value. i will like to see more crypto been accepteable more than Bitcoin.

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Quote from: Kvalentine on March 14, 2020, 03:10:27 AM

I find Korea and few other countries to be the most supportive in terms of blockchain technology, that's why I like projects from korea, this is a good news but for now cure needs to be found for Coronavirus, it's destroying everything

Yes, that's right, and some crypto projects that have been supported by Korea have also experienced full success, we can conclude that Korea is very concerned about blockchain and crypto technology, just because it's currently being hit by the corona virus, the government at every country is giving focus and care to the corona virus problem so that everything can go smoothly as before.

voteformeg

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Quote from: mamamu111 on March 10, 2020, 06:40:25 AM

South Korea followed the footsteps of India in terms of legalizing cryptocurrency trading and holding after passing a new amendment.

READ THE COMPLETE ARTICLE BELOW.... https://worldpublicityblog.com/index.php/2020/03/09/south-korea-parliament-legalizes-crypto/

tanx , indeed a very good article , it is great to see other big country's are entering the cryptomarket , also this are very big community's which can mean a very big difference for all of us , also with the next bitcoinhalving in mind it makes me very curious what will happen just before or after the halving , i suspect more little bullrun's before the bigone kicks in

Kvalentine

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I find Korea and few other countries to be the most supportive in terms of blockchain technology, that's why I like projects from korea, this is a good news but for now cure needs to be found for Coronavirus, it's destroying everything

bitgolden

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We are in a weird situation where South Korea has one of the highest number of infected people with corona and they have to take care of that first but they have managed to squeeze in something great for us crypto people as well. Do you think this was done with research and they will keep it as it is or do you think this was done more like "we have corona to think about first, let them do whatever they want for now" type of situation?

Because, if it is the second version that might be a trouble later when corona ends but if it is the first one that means we are going to get more and more Asian countries following south Korea as well. I wonder if this will change anything in the company shape, like would more crypto related companies move to south Korea for better legality?

shoreno

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Quote from: alan2here on March 12, 2020, 07:35:19 AM

Quote from: Wildwest on March 12, 2020, 01:16:20 AM

This is an interesting info for all of us because there are already some countries that have legalized crypto and Korea is a huge crypto community nowadays and this is a good step taken by the government and we expect other countries as well Can follow their footsteps because with the evolving technology then the world of crypto is one that should be at forth.

Korea has been legalizing the crypto market for a long time, but the rules are very complicated and investors here are not comfortable choosing to trade here. I have some friends in this country and they feel very bothered when there is government involvement.

In addition, if you use crypto outside the country, you will probably be charged with money laundering and this is what happened in this country.

using crypto outside your country ? how come when crypto is online and when your online your transacting all over the world .

that rule of them is sick , and the case for this is money laundering ? i thought money laundering is a different case and related to some serious offence but if you only use a crypto locally or outside , that is normal and there is no case to be file for it . still the government have the power , you can just follow it or quit using it to avoid further issues

alan2here

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Quote from: Wildwest on March 12, 2020, 01:16:20 AM

This is an interesting info for all of us because there are already some countries that have legalized crypto and Korea is a huge crypto community nowadays and this is a good step taken by the government and we expect other countries as well Can follow their footsteps because with the evolving technology then the world of crypto is one that should be at forth.

Korea has been legalizing the crypto market for a long time, but the rules are very complicated and investors here are not comfortable choosing to trade here. I have some friends in this country and they feel very bothered when there is government involvement.

In addition, if you use crypto outside the country, you will probably be charged with money laundering and this is what happened in this country.

plvbob0070

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AFAIK, most of the advance country is now legalize cryptocurrency or they even support blockchain technologies. By just legalizing and accepting cryptocurrency we can now see great adoption in the future and later on, all of us will gonna use cryptocurrency. For me, we are now in the middle phase of the adoption of cryptocurrency because I notice the number of people who get interested is now rapidly increasing and it is totally good which we can now have a big cryptocurrency community.

If ever all countries will legalize cryptocurrency expect that the price will have a chance to climb up to the moon. Even my country still not legalized cryptocurrency, I'm hoping that in the next coming year they will legalize it and more people notice and use this.

trauchot

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The news are just excellent and this legalization already must been long time ago, because in South Korea all sectors have already begun to develop with the help of cryptocurrency technologies and most of the population uses cryptocurrency and the South Korean authorities understand that cryptocurrency will help them develop faster.

el kaka22

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I still can't believe South Korea waited so long for this. Don't they have bunch of exchanges that are located there already? In any way, the more countries that legalizes crypto the better for us. However, do not forget that we are actually taking a risk here as well, when a nation allows crypto to exists, that means we have to prove them that it is the best thing any nation can do and focus on making those companies money for legally working and they should pay their taxes as high as possible as well without evading so that government actually sees crypto in a beautiful light.

If you suddenly make something wrong or scam people in South Korea that means government may actually change their minds and think the headache wouldn't worth the tax they are getting.

Wildwest

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This is an interesting info for all of us because there are already some countries that have legalized crypto and Korea is a huge crypto community nowadays and this is a good step taken by the government and we expect other countries as well Can follow their footsteps because with the evolving technology then the world of crypto is one that should be at forth.

bgaf

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This country is known for its adoption and very quick in terms of innovation. Its not shocking that the home of Samsung Company will be in line to the progress and support blockchain technology.

I do hope that South Korea make a regulation and provision that will be shown the world how cryptocurrency can be regulated in a right way. Many projects under their territory has increased tremendously which is why I believe that fundamentals are still working aside from the technical analysis alone. This news will influence more country to step up too and if thats happened more investors will likely come back again.

taufik123

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Countries that have begun to legalize cryptocurrency are countries that are aware of the technology owned by cryptocurrency.

South Korea chose the right step by legalizing cryptocurrency. Cryptocurrency trading is now fully a system governed by the government, so there will be new rules that will be applied. Businesses related to cryptocurrency must comply with government regulations so verification of real names and real identities is needed to prevent money laundering and help combat fraud projects.

kiwisie

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I was not surprised with this information. Korea is one of the major countries in the exploitation and use of blockchain technology!

However, I think that the legalization of cryptocurrencies will greatly affect the banks and local currencies, tax and regulatory costs will be enacted.
For me, I don't think that legalization of cryptocurrencies is good, it brings strict rules and laws when trading and trading cryptocurrencies!

Besides, with the legalization of cryptocurrency trading, the market will have a huge capital inflow, attracting new investors! About 3 years ago, cryptocurrency was strangely boycotted and discriminated against, they called it virtual money, now it has been called "electronic money" and "digital money".

This is good news, the future of cryptocurrencies will be accepted worldwide as a means of global transactions.

TimeTeller

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Quote from: ATSgrowth on March 11, 2020, 04:38:34 PM

India, South Korea, now it is time for the China´s decision.
We need such good news in a time of bad market sentiment, when every crypto crashes due to stock market collapse.

I don't think we need to wait for China on this matter.
They have their own way of addressing issues on hand.
But would be nice to see more progressive countries embracing crypto and recognizing the advantages of blockchain.
In time, we will have a crypto-educated community, this will drive crypto in good status in the market.

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Quote from: BitTraderCute on March 11, 2020, 06:35:49 PM

more countries will legalize crypto , more people will invest in cryptocurrency market and its will good for price. investors will feel comfort when their government allowed citizen to invest in crypto . no more fear or banning and anything else which will make market situation bad. this is good news when one by one countries legalize crypto,

well it would be very good if many countries began to legalize cryptocurrency but you should know that not all countries provide facilities to legalize cryptocurrency, there are many countries that currently have problems with cryptocurrency even though the numbers are small and there are still many who have legalized cryptocurrency. one day all countries will receive payments using cryptocurrency.

BitTraderCute

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more countries will legalize crypto , more people will invest in cryptocurrency market and its will good for price. investors will feel comfort when their government allowed citizen to invest in crypto . no more fear or banning and anything else which will make market situation bad. this is good news when one by one countries legalize crypto,

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Quote from: ATSgrowth on March 11, 2020, 04:38:34 PM

India, South Korea, now it is time for the China´s decision.
We need such good news in a time of bad market sentiment, when every crypto crashes due to stock market collapse.

France was also starting to put crypto to be legalized on its country. It looks like that people have started to be realized how important crypto and they are all massively starting to liegalize crypto as it will bring them all into the good ecosystem which is not depend on traditional economic system that already used from a long time ago.

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