In the last few days government in countries like south Korea & India are talking about regulation bitcoins and other crypto currencies. now South Korea is taking about banning it and all the news ?
what exactly they mean by regulation ??
And now after days of understanding it they are deciding to ban it as they are not able to regulate it is it so?
or there is some other story to it?
guys what do you think?
Most of it is KYC stuff, making sure they know who is depositing and withdrawing money and that that money can be accounted for, the main two reasons for this are taxes and anti-money laundering. Crypto is used by many to avoid taxes and launder money and the easiest way to stop this is to better regulate on the exchange and make them do the work for the government basically.