Look what happens when you try to ban cryptocurrency:
The South Korean Finance Minister announced yesterday that they would be drafting a bill to ban cryptocurrency trading in the region.
Today, the public has responded:
(Source: https://twitter.com/iamjosephyoung/status/951710054868135936)
Over 100k signatures have been filed to reject the trading ban proposal and another 30k signatures have filed for the removal of the two ministers from their positions.
Ouch!
I would imgaine that they didn't think drafting such a bill could potentially cost them their jobs!
Oh and by the way, shortly after the news broke about South Korea potentially banning cryptocurreny trading, this was released:
(Source: https://twitter.com/iamjosephyoung/status/951428854085689344)
Isn't that nice.
To recap:
There is likely no trading ban in South Korea in the short term.
AND...
The earlier announcement might conceivably cost some officials their jobs.
Stay informed my friends.
Follow me: @jrcornel
Thank you for posting @jrcornel.
What a quick response.....good luck to them.
Cheers.
Well i think this is for the better because trading virtual items are arent good for the economy of farmers and townsfolk.
Bro what do you mean I sell my World of Warcraft gold all the time and the farmers in my area do just fine
And that should scare all of us. Even with all the advances in technology, the human race is still extremely mentally retarded.
ONly til they start working on themselves, either cause they want to or (more often) they have to :)
Korean Citizen wants Head of the Ministry of Justice FIRED. Finance Minister said Head of the Ministry of Justice is WRONG, we have not considered banning and basically Too Big to Ban.
There's alot of innovations coming out from South Korea, so they would like to not ban it, but regulate or put guidelines due to money laundering.
Are you south korean?
I wish mate!
Money is just a form of language to express value, why would it be bad for farmers or townsfolk? Farmers have been on a downward spiral for a long time, dying out because the U.S. government importing crap food from China. Crypto will help farmers and townsfolk in so many ways.
I would imgaine that they didn't think drafting such a bill could potentially cost them their jobs!
But WAIT...perhaps there's MORE
how bout confiscating all their assets..
then deporting them to NORTH Korea.
they should fit right in.
That's a no brainer! Buy Crypto with credit cards, get points...take a vacation. That's cool!
Already done it!
Yes, and yes! Please!!!
They would probably take their cheaply bought Bitcoins with them to North Korea.
North Korea were the highest beneficiary of Bitcoin.
They hacked and stole Bitcoins and hired Chinese miners to mine for them in China.
Then, the Bitcoins skyrocketed. Lol
This mobilization from our brothers in Korea will send a very loud and crisp message to all crooked, bankster-loving politician in the West: you mess with crypto, you'll be voted out in a minute!
They can try their best but crypto is the future
These press releases have a big impact on the market fluctuation! We need some big institution to embrace it before the GOVs will be involved. Japan is an exemption.
Yea it is ok because the people united will keep things in motion.
True as this will be a good thing to boost the trading of Cryptos
yeah you are right @makeithappen
What's interesting is that a politician's stance on cryptocurrencies might be one of the hot topic policy issues going into the next presidential election. It may soon be political suicide for someone in office to oppose cryptocurrencies in SK. Koreans have been historically been very vocal about things they want changed, the impeachment of then President Bak Geun Hye is a good example. Let's see if they can leverage that voice to maintain the security of crypto trading this year!
Now what I wonder is if the cryptocurrencies can become so ingrained in the political fabric of the US, like debate over gun control or how to handle healthcare, that any move to ban crypto will be met a force like we're seeing in Korea. Because if that level of legitimacy can be established, it would be a HUGE signal of staying power for the crypto space.
Agreed 100%. Great comment!
It's great to see them stand up for their rights. It's only a matter of time until the blockchain technology and cryptocurrencies become a big part of american politics. The public here is just starting to hear about these things, and it's still relatively unkown territory for most people in America.
You comment is as cool like one of good articles i've read :) just awesome!
based on exchange prices, Koreans seem to be very eager to get into the crypto game.
Who has a mortgage anymore?! I just bought my house with my bitcoin profits...
I totally agree with you
PHEW...
let's go back to our regular program.
Thanks for the news.
Hahahhahhaa
Looks like South Korea found out it is tough to stop a Tsunami once it has gathered a head of Steem 👍
Haha yes, hopefully that is the case. Nice pun! :)