Important steps to legalize cryptocurrencies in East Asian countries

[Choudhary umer 0]

Just gentlemen you said absolutely right this is a good step to legal the cryptocurrency in the Asia I want to tell you that I hope very soon the cryptocurrency is legal in all over the world and also in the Asia

[JS Nila2021 9]

Cryptocurrency is legal in eastern Asian countries. Because Crypto is very popular among the Asian countries. Because people here have made a lot of money using crypto, cryptocurrency works with capital, people from Asian countries use it, you have to work as awareness about cryptocurrency currency.

[Sir Lyman 399]

On 1/14/2020 at 10:18 AM, Great Commander said:

South Korea would be the starting countries alongside with China to fully regulate the usage of bitcoin and give importance to it that could bring the economy even higher. 

It is a very good development to great people of south korea because they will start to benefit from bitcoin and other crypto currency as well, however it will bring about more user into cryptoworld and it will help grow there economy as well as reducing the rate of unemployment in the country.

[Ahmad ah 1212]

East Asian countries like China and South Korea have always been the first in the field of cryptocurrency and digital currencies. I have heard similar news about allowing institutions and banks in these countries to deal in Bitcoin, and this means that these countries have realized the importance of cryptocurrencies in developing the economy.

[abohasnn9 2401]

My friend, many countries in the Middle East categorically reject cryptocurrencies, and there are countries that do not reject them as trading but impose taxes on their users, such as North Korea and others, and there are countries that adopt and adopt them, such as China in Asia in general, and most importantly, they are one of the largest supporters of cryptocurrencies around the world. Thank you very much.

[Abrar1122 10]

I think the main issue is of imposing taxes on the traders and cryptocurrency users if the government finds a solution to that it will be easy to realise the cryptocurrency

[Guru2050 8284]

Great news and welcome development to whole world of crypto currency. The legalizing of Crypto system from these countries will further speed and boost the general adoption of Crypto from neighboring countries and third countries. 

[Ameralsamt 2558]

Yes, my friend, I really liked this article, of course it's a good step from South Korea, to keep the suspicions of cryptocurrencies and encryption, and make it more legal, that's the most important thing that cryptocurrencies and encryption seek. 

[abd1992 960]

On 1/14/2020 at 9:48 AM, Qasem111 said:

The Fourth Industrial Revolution Committee at the Presidential Palace in South Korea recommended that the Korean government allow financial institutions the right to launch investment products that rely on cryptocurrency, including bitcoin derivatives.

The committee recommends that "the financial sector develop and encourage custodianship solutions in South Korea to avoid relying only on foreign custodianship rights to process cryptocurrency assets" and that bitcoin be listed directly on the Korea Exchange [KRX] in South Korea.

The following sentences are the most promising:

Geleneksel's traditional players in the capital market, such as securities firms and banks, must develop and promote local collateral solutions to deal with cryptocurrency assets. Therefore, South Korea should not rely on foreign countries for the coded asset storage market. The Korean government should allow institutional investors to gradually deal with cryptocurrency assets and encourage OTC schedules for institutional investors ’transactions. "

The European Commission also recommended that the South Korean government follow the steps of US and Swiss financial officials and consider providing licenses and guidelines for integrating crypto-related products into South Korea's financial system for cryptocurrency exchange

Last week, the South Korean government stated that it had decided not to impose taxes on digital asset transaction revenue to ease the chaos in the country's cryptocurrency tax.

However, the Korean government is reviewing international trends to properly integrate digital currencies into existing tax laws

I think that most countries today are trying to study the financial markets in order to work to legitimize them and become a legal act. This is a good thing that will make it rise a lot.

[Jack764 1841]

Before cryptocurrencies can be adopted in Asian countries, they must be adopted by America and European countries, and this will make it certain that they will be accepted by Asian countries.

[John Pernia 0]

This would be a very important breakthrough for the region as other countries could follow suit and end up adopting cryptocurrencies as part of their economic ecosystem, bringing development and profitable economic stability.

[Quickbee 26]

It is good that the South Korean government has initiated measures to recognize and accept Cryptocurrency. This will be good for South Koreans who use Cryptocurrency and also for the Crypto world that in general.

[Dissy sb 945]

My friend I want to tell you that in the some countries of the east asia like Pakistan and Bangladesh where the cryptocurrency is Ban and illegal due to some reasons and we are hoping that after sometime this country's are also so joint the cryptocurrency

[Nersreem 279]

There are chances that crypto will be fully legalise in Asian countries. They have been promoting crypto activities for a longtime and supporting crypto transactions within and across the county borders. 

[teebasas 3018]

We know that many countries in Asia are gradually adopting cryptography, and the fact is this is good news, and so many countries have started to establish their own digital currency, which is good for cryptography.

[Siam50 923]

Dear friend, cryptocurrency is currently banned in many countries of the world, but these ideas will work for legitimacy in East Asia, especially on the Asian continent.  As the demand and popularity of cryptocurrencies increases day by day, cryptocurrencies will make a good contribution in the future, just like conventional currencies.

[Alexander002 91]

There are many countries in the world that have declared this currency illegal. They need to think positively about this currencyThe people who have declared it illegal will also use it this way. They will understand how useful cryptocurrency is.

[Pereira 2303]

I find it fantastic to observe that various countries are establishing cryptocurrencies in a country's economy, such as products in local stores, this encourages people's participation in the crypto world and drives the crypto market higher and higher and higher. Better structured, you can see different areas around the world in which the cryptocurrency was established and these same improved the local economy of the country, for this reason if the cryptocurrency is used correctly it will help the country to grow to its maximum splendor.