South Korea Going To Block Exchange

[malik6314193 5449]

Oh it bad news but i want to ask why South Korea is going to ban crypto currencies exchange. And it very sad news for Korean users who earn from crypto forums. 

[cryptousd20 141]

It is bad news for South Korea, which prevents the circulation of encryption in the country. This will lead to the loss of funds of several investors inside the country. This is very unfortunate.

[duncun007 3577]

i think it would be very risky to block an entire exchange at once because it would mean many people will lose their money in that exchange forever but they would still wont stop trading.

[bliznec 22267]

In this country, this kind of Bitcoin closure has already taken place. This is not good news for blockchain and bitcoin. 

[Hanan951 841]

Why would they do that in the first place and why they always try to block anything new in there country ? 

[Khalid Khan 24]

Really this is a very bad news to the south korea people who are having crypto currencies and who are working here in crypto talk. But their will be any alternative way to access it or I suggest everyone to convert their currencies into money soon

[rekter 8129]

On 2/10/2020 at 5:02 PM, rjroshan said:

Bitcoin has to face a lot of difficulties in the past and still not seems to end. The new and latest drama coming from South Korea, They have been announced that there are some possibilities of shutting down all cryptocurrency exchanges. If this happens as they want, How this can be affected by Bitcoin and it's the price.

Well that's just a map, if you could link to these news that would be helpful, because posts like these are acting as a rumor without a source we can verify and study ourselves. There has been tons of bans from different governments and some of them have ended up being hoaxes.

[Khukababu1 1]

The crypto world has been affected more and prices can fall. Now there are some problems with cryptocurrency and most countries refuse because it is decentralized. If the user declines, the price drops and crypto investors suffer. Crypto works for the currency user.

[Lubruselu 2803]

On 2/10/2020 at 6:02 PM, rjroshan said:

Bitcoin has to face a lot of difficulties in the past and still not seems to end. The new and latest drama coming from South Korea, They have been announced that there are some possibilities of shutting down all cryptocurrency exchanges. If this happens as they want, How this can be affected by Bitcoin and it's the price.

I don't think if there have any reality on this news, because south Korea is the country that's are the one who support bitcoin and other crypto's as well, so how can they shut down the exchange?

[CryptoMaxim 3829]

Of course, the news is sad. But I do not think that this will seriously affect the crypto world. First, of course, there will be a resonance. But in a short time, everything will fall into place.

[Shahadat hossan 4]

For what reason towards the south korea towards discourage deals whatever 's right behind this unique why not guidance the majority of us wanna are familiar with this unique consideration why not guidance everybody through.

[deepown 0]

44 minutes ago, Rahat63 said:

So what really happens if that happens? I hope this news is just a matter of fact: South Korea does not have a lot of cryptocurrency market exchanges worldwide. Will it ban cryptocurrency in that country?

A country have a power to impose taxes on a global exchange to its country or ban that exchange from the country.

[deepown 0]

23 minutes ago, Tawhid03 said:

Yes we know it bitcoin is good coin and every day many people exchange it to other coin.Daily we work on it.The stop exchange is not good for crypto.

Bitcoin can still be used without trading sites, trading sites are just a businesses done with crypto not the only place crypto is used.

[jacker 1095]

This is really bad news. I do not understand the real reason why Korea is stopping with trading. So what do people using cryptocurrencies in Korea do? I'm quite disappointed because I hear the news that the exchange is closed somewhere

[Abiaan 1209]

i think this news is fake because South Korea is very kind with Cryptocurrency and is a supporter of the cryptocurrency and has provided welcoming environment for it

[Upright 2688]

As per know that this Korean countries are like having harsh rules on Cryptocurrencies, as one of this countries have the implementation of tax on Crypto transactions, when I saw this, I was surprised, like really even tax in Crypto, then miners maybe charged higher

[Philippe2001 356]

The really bad news is that South Korea will not be able to work with the cryptocurrency
The news may lead to a decline in cryptocurrencies in the future and a decrease in global
 trading volume when countries withdraw from the field of the two cryptocurrencies

[iloveyobit 6599]

I hope that this will not happen because it will be a painful blow to the field. We are in this exact time, in need of many positive news and not disappointing negative news.

[Mariam Augustine 11]

Countries taking steps and creating dramas against crypto currency are just morons crypto is the new black now with note exchange being an old form crypto is the latest one and should be accepted by all and this is a very foolish step to ban it but everyone has their own reasons

[Rezort 846]

If only one country blocks exchanges it would not actually affect the global crypto market, however this can set countries against the crypto world, there is a small chance.

[MrGox 880]

What is the main reason to do it, l don't think to block exchange can be profitable for South Korea. In some part of world every country try to join in crypto world, bur on the contrary they are doing unlike it. What is the reason. 

[Ayush Singh 1175]

The countries which have a huge amount of crypto traders and investors and if they will take such decisions then it will be a huge loss for the Cryptocurrency as there will be a decrease in its investments due to which the prices may also fall.

[Ms.o 3322]

Korea is one of the countries that has wide scale adoption on technology,and blocking exchange can gives impact on crypto price,but from what i read, South Korean National Assembly passed new legislation that will provide a framework for the regulation and legalization of cryptocurrencies and crypto exchange,so i think they just temporary block exchange to avoid being abuse while they trying to get new way on how they will avoid misused of crypto in the future.

[Thomas. 1 18]

 I hope this will not happen in other countries but good thing is that there is no affect on crypto market in other part of the world.Not only Korea, many countries are very worried about cryptocurrency, many exchange sites are closed in many countries, but I did not know that this exchange site was closed in Korea.but I think it will not generate effects on the price of bitcoin or other cryptocurrencies.

[Treat1234 0]

It won't have much effect on cryptocurrency, if it is china that will shut down all their cryptocurrency exchanges, then we might have problem with them soon and it will have negatives impact on cryptocurrency