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RE: South Korean Crypto Crackdown / Wikipedia Rival On EOS? / Blockchain.info Now Supports Bitcoin Cash
i see it differently. i'm korean myself and koreans don't really have their toes in the cryptocurrency. it's mostly bitcoin speculation and most of us don't even know what an ICO is. Bitcoin itself is heavily regulated and you can't trade anything in korea without giving up a huge chunk of your privacy (including your job, id, phone number, address, and the entire list of your family members). the bank you're talking about may have subtle differences but it's under the control of the same government that will ban everything that is decentralized.
why do you believe Koreans do have to giving up private information to trade their cryptocurrency? I don't get it. and what on Earth, do you saying BTC in heavily regulated right now????
There are no regulations. so that's why GOV says it's dangerous. Because they can't touch anything about it.
hello my fellow korean 안녕하세요 :)
nobody controls bitcoin (actually i'm not even 100% sure about this, but theoretically no single entity can control bitcoin)
having said that controlling your local exchanges is very easy. i trade myself so chances are if you're trading in korea you probably won't even have your own private key. unless you personally stash your bitcoin in an anonymous place.
if one day the government decides to crackdown on the exchanges (a very bad place to save your money) you won't be able to convert your coins into anything. you also have a heavy restriction in how much cash you can convert into krw or usd and the banks will track your every move.
i might be wrong here but who gave the government the rights to decide which coin is dangerous and which is not? people lose money all the time. let them lose it. it's part of the game.