Important steps to legalize cryptocurrencies in East Asian countries

[Mcd0d0 5882]

4 minutes ago, bliznec said:

Korea thrives on the blockchain and it pleases. Korea, China can boast of their attitude towards the blockchain. The main thing is that in Korea, they introduce blockchain technologies, which takes time and money. The Korean government will support the blockchain, and I think this is to be expected. 

And also this is why korea is the one of the richest country in the world it's because to their technologies that they develop, when we talks about to china, they are not allowing bitcoin because they want to create some new coin which they will compete with Bitcoin.

[Omar Ommeish 4872]

I am really happy with this news because it will increase the popularity of cryptocurrencies between countries and become more traded so that we can buy many things with it.

[bliznec 22267]

2 minutes ago, Mcd0d0 said:

And also this is why korea is the one of the richest country in the world it's because to their technologies that they develop, when we talks about to china, they are not allowing bitcoin because they want to create some new coin which they will compete with Bitcoin.

Let Korea, then, give an example to China, that for the development of EOS cryptocurrencies, it took time and this is to China's advantage. Today, EOS has risen in price. Korea needs time to come up with its own cryptocurrency and funds are needed for this. 

[jamesvince 2389]

South corea if planned to legalized the market of crypto currency then best for country interest as well as for the investors of that country because everyone know now crypto currencies market is part of online investments such as forex, stock and now crypto market also. Its better that all world allowed to their customers and investors to freely done their business. 

 

Edited May 8, 2020 by jamesvince

[Mcd0d0 5882]

20 hours ago, bliznec said:

Let Korea, then, give an example to China, that for the development of EOS cryptocurrencies, it took time and this is to China's advantage. Today, EOS has risen in price. Korea needs time to come up with its own cryptocurrency and funds are needed for this. 

Well, i just read it here in this forum that china will develop some coin which is being compete with Bitcoin, kindly find it mate and also i will suggest to you to read it, happy posting mate.

[Laboni 755]

They are trying to legalize crypto to improve their country's economy. If crypto gets legitimacy then everything in their country's business trade will expand. That's why they want to legalize crypto. But there is a long time to do it.

[Zues 1069]

On 5/7/2020 at 10:43 AM, Jeet Narayan said:

East Asian country like south Korea, china are making laws regarding crypto and it's use case . They are making Crypto modalities on Crypto currency . That is very positive news .

Yes I think that is a positive news because as of now there are countries in East Asia that is accepting cryptocurrencies now and I hope that they will full accept what cryptocurrency does and I hope that they will gonna advance their banks. 

[bliznec 22267]

2 hours ago, Mcd0d0 said:

Well, i just read it here in this forum that china will develop some coin which is being compete with Bitcoin, kindly find it mate and also i will suggest to you to read it, happy posting mate.

China may have invented a cryptocurrency that can compete with bitcoin. But China has a long way to go before conquering the cryptocurrency market. Yes, China has volumes, but this is not enough to stand on a par with bitcoin. Bitcoin is free and gives a chance to all investors. 

[Mcd0d0 5882]

2 hours ago, bliznec said:

China may have invented a cryptocurrency that can compete with bitcoin. But China has a long way to go before conquering the cryptocurrency market. Yes, China has volumes, but this is not enough to stand on a par with bitcoin. Bitcoin is free and gives a chance to all investors. 

Well, now i know that they cannot conquered cryptocurrency as of now so that there are some places in china which is banning the bitcoin to used, thanks for helping mate.

[bliznec 22267]

1 hour ago, Mcd0d0 said:

Well, now i know that they cannot conquered cryptocurrency as of now so that there are some places in china which is banning the bitcoin to used, thanks for helping mate.

It is unfortunate that this happens when the Chinese government decides that exchanging and trading with cryptocurrencies is prohibited. Good thing I do not live in China.

[Virgil dijk 1431]

This is awesome that most countries have started accepting cryptocurrencies and  the Asian countries are the ones with the highest adoption , it's obvious there are taking the lead in the development of cryptocurrencies.

[pablomarwan 3082]

This decision, which was included by South Korea, is attributable to the benefits of those things that its people were not entitled to enjoy now, and they have the right to do so. By relying on digital currencies now, it will create opportunities for them to include their projects in foreign markets and bring in new investors.

[Mcd0d0 5882]

12 hours ago, bliznec said:

It is unfortunate that this happens when the Chinese government decides that exchanging and trading with cryptocurrencies is prohibited. Good thing I do not live in China.

Well, i think Chinese government didn't prohibited the exchanging, trading and also gambling because there has many casino right there and it has a high percentage that they are using cryptocurrencies as a payment method.

[Mcd0d0 5882]

1 minute ago, CnapmaK said:

I read in this forum that crypto was already legalize in South Korea, but their government added taxes for cryptocurrencies incomes. They take 20% taxes. I think its too high,

Well, you're right mate it's because they know that it can be help to their economy to increased by knowing that this will be more popular or in demand to their country, this is a nice strategy by the way.

[Rendra808 92]

South Korea will be the starting nations alongside with China to fully regulate using bitcoin and give importance to it that could convey the economy even higher.

[yuwira 0]

you are right that East Asian international locations are taking such steps to improve their economies. Their usa's economy has been hampered by the virus. If the government of the East Asian usa helps Bitcoin, then crypto turns into popular in that united states and will get legitimacy.

[Zalaks007 543]

South Korea to regulate cryptocurrency will really help their economy and creates higher job opportunities for it's citizens. With china also considering regulating it too, asian countries will lead the world of cryptocurrency in the nearest future.

[Dark_Sky 8489]

On 4/23/2020 at 1:55 AM, Zaino34 said:

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.

That's really a good news and a good sign. 

I think it will be possible that all countries in Asia will adopt cryptocurrencies in the near future. 

I'm hoping for this thing to happen. 

[Iriswolfgang 200]

On 1/14/2020 at 4:17 PM, bliznec said:

Various forums are held in Korea, and there is talk about the blockchain. As for my country, such forums are held in my country, and investors from all over the world are gathering to discuss the details of the development of bitcoin and the entire blockchain. This makes me happy. 

It is great that there are spreading platforms like forums that promotes the existence of cryptocurrencies and I think that they should follow the steps in order to have a good cryptocurrency community in other continents and other parts of asia

[vynz 540]

On 1/14/2020 at 3:48 PM, 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

East Asian countries like south Korea and japan are very focused and research and advancements in terms of technology they are known for it. it is no doubt that South Korea will aim for what's next because it is a huge investment if the nation is one step ahead in terms of technology in the present day. 

[CryptoLover21 0]

Yeah most of the countries of the east Asian countries are likely more developed countries than other Asian countries. Legalizing cryptocurrencies in the country will help a lot of investors and traders of the that country and for world wide transactions.

[TimopheyKa 3900]

It's interesting. I believe that many Asian countries are not against cryptocurrency, it's about the users themselves. Because not many people will want to use it. As I know, China and Korea are actively happy with cryptocurrency, because even Samsung creates its own wallets, which is very coo

[cryptovlek 2597]

I didn't know that Korea had a commitee for the fourth industrial revolution. It seems this country is ahead of most of our countries in many things and they are still very strict against cryptocurrencies, although Koreans are investing and buying cryptocurrencies in massive numbers.

[zhoutong 2188]

I hope that the regulations in South Korea and in all Asian countries will become more in favour of cryptocurrencies as right now we see a lot of bans and clamp down like in exchanges as okex and bithumb. I hope that the cryptocurrency services behave lawful and not make a damage to crypto.

[Mella 3680]

I am not know that there was so big interest on cryptocurrencies until recently, I am think they were for the trading most but I am very happy to find so many development and news about how crypto is being view in the big economy of the south korean and the european union.