According to a news published a few hours ago here (Korean content), it seems that a few officials from the Financial Supervisory Service (FSS) invested in cryptocurrency and then they liquidated their positions, just before the announcement of the "regulatory clampdown" by the Ministry of Justice. This may be seen as market manipulation, negligence, etc.
Events are still unfolding and it's still very early to form an opinion on this specific situation. It may not even mean what it says, since there are no restrictions in trading, at the moment, but it does paint a very interesting image of the size of crypto phenomenon in South Korea. When members of the FSS are trading, you know that you're dealing with a huge social pressure, one that will most likely burst in unpredictable ways, if not properly contained.
As announced during the last few days, South Korea is expected to make a formal announcement today about closing or not closing domestic cryptocurrencies.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I just hope that they wont ban them and give ICON and the local projects a chance to grow. When I first read about the SK situation, I thought maybe they try to buy in more cheap again... I don't know like most of us, but I am curious what happens - the next days until february will be exciting.
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It's really hard to know what's what in this world of crypto. There is alot of FUD and rumors floating about. With Korea being such a force in the market at the moment I think it'd be best for Government to stop interfering with crypto.
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I also can't imagine that they give up their role as a big player in crypto-market. Most likely they will introduce strict guidelines (KYC and stuff like that), and thats it.
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Well S.Korea is just a part of global crypto market, I am more worried by the fact I can't deposit or withdraw Steem from OpenLedger right now...
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Just hope that they don't make any negative announcement today
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power corrupts.
absolute power corrupts absolutely.
they couldn't resist the temptation to become RICH.
guess it didn't work out the way they'd hoped..
good thing sepaku is a Japanese tradition...not korean.
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Yes that correct .and they want to make that harder to let people be away . But now we live in technology life that mean we can know evey details .
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yes you are right.
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HI ! Thanks for all this and your app , very usefull ! Just gave you my vote for witness 😀
I posted an article on the pull back this morning ....
Just dircovered you and am going to take time to go through your blog !
Bonne journée ,
A red fish 🐟
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Good to know that. I hope they make good announcements today amd market will cheer.
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It won't stop to amaze me how some elites want to make the poor poorest which every kind of manipulation. A thing is absolutely clear for blockchain, that is a disruptive new way to connect a better and fairer world
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Informative post
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Hey @dragosroua sorry for the unrelated comment, but I'm ready for the interview for the Steem research project in the appearin channel you sent me. Can you come online there? :-)
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2 secs. I'm in now.
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Just read the news seems like they are in favour of regulating
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Maybe they have being trading for awhile. if there is nothing illegal about their investments and it standard procedure to have them investigated... there shouldn't be any issues. they should just dance to the music while it lasts.
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thnaks for the news
i hope all be good
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@dragosroua
I am not sure about the source, but I believe I have read a comment in the last days from a Korean, that an actual ban requires the consent of several parties, and that, if anything, it could not be achieved until the next six to twelve months. And that does not sound so illegitimate, because South Korea also lives in a democracy in which decisions that are directed against the interest of a large part of the population (there is a running petition against a possible ban right now) can not be simply made "overnight".
A lot of information that we currently receive in the West is purely based on FUD. That is why i find it great that you translate Korean information sources and build your own opinion based on that!
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thanks for sharing this information to us
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this was all a fud created by the president
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which president?
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the announcement has been made ?
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Oh that explains so much...
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