Post
Topic
Board Bitcoin Discussion
Re: Korean Government will crack down crypto exchange.
by
iamTom123
on 29/09/2017, 05:14:00 UTC
https://www.cryptocoinsnews.com/breaking-south-korea-bans-initial-coin-offerings-report/

In the article, it says

"The reports also state that the FSS will crack down on cryptocurrency exchanges by banning margin trading and stepping up enforcement of anti-money laundering (AML/KYC) regulations."

They are shutting down Korean exchange. We are doomed.

I don't believe we are doomed in fact this can help for the ICO industry to self-regulate itself in the long run so that authorities won't be cracking down on the platform. But this can be bad news when viewed on its immediate impact. Good thing is that they are not actually banning Bitcoin exchanges but making sure that anti-money laundering measures are being followed. Viewed from afar, we are still actually in the stage where there can be confusions on what can be done in light of the governments tightening its grip on many issues relative to cryptocurrency. And while there can be doors closed, am sure soon there would be new windows to be opened.