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RE: South Korean Crypto Crackdown / Wikipedia Rival On EOS? / Blockchain.info Now Supports Bitcoin Cash
Thank you for sharing this information with us @marketingmonk. The news about South Korea is a deja vu... Many other countries were going through similar stages, until the governments realized that it is wiser to simply have sound regulation for the financial industry dealing with cryptocurencies. Putting restrictions on citizens' monies is always a dangerous thing as it often leads to flight of capital out of the country.
In the short term, that is before South Korea has a stable regulatory environment for cryptocurrencies, many may decide to send funds to Chinese or other global exchanges.
i'm just extremely bummed out by the news right now. some of the regulations here in korea are tougher than what the communist party in china is doing. but i do see a bit of silver lining in cryptocurrency. for complete anonymity i can use vpn or better yet leave the country for awhile and trade. the south korean government will try to crack down completely on cryptocurrency. they will try to have their own version of it. or delegate it to a corporation that they can control, and have a blockchain that is controlled and centralized. but at that point it's not really a blockchain anymore, just another centralized banking system.
All countries want to keep their wealth and money and therefore try as much as possible to prevent so-called diversion of funds
This is just my own analysis
Finally, thank you for sharing valuable information
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