A week ago Head of DoJ announced Korean government can shut down Exchanges. It caused a massive price drop in Korea. But the problem was this was only Idea DoJ not an entire government so today they have just announced a new one. Detail will follow
- There will be no exchanges shut down.
- We will punish some exchange doing illegal stuff, included inside trading
- We will charge corporate tax from exchanges
- We will charge regular tax
- Need to KYC before trading
- If you trade more than 10 grand per day, it will be automatically reported to FIU
- The government acknowledges cryptocurrency can’t be detached from blockchain.
This is a good news shared by you, sir. A few days ago, I was reading news stuff and most of the people were saying that South Korea is shutting down all the exchanges or clamping down on them, which made me worry about my small investment in Cryptocurrency.
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Yeah , current party want to sustain their government so they ain't gonna shut down exchanges carelessly. It will reflect right away to voter's vote. Good news though lol
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that's a news
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This is very welcome news. Also, it gives legitimacy to cryptos. So, regulation is not so bad after all.
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They have done the damage to create panic among the newbie & crashed price down to $10k now its nothing to say we won't ban exchange something like that won't work to STOP FUD in the market.
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