Push to Legalize Bitcoin?
According to an article from cryptocoinnews.com, Law makers in South Korea are planning to Legalize Bitcoin
"Park Yong-jin, a lawmaker and member of the country’s ruling Democratic Party is drawing up three revisions this month to build a regulatory framework for digital currencies."
If this move is similar to the legalization of Bitcoin in Japan that occurred earlier this year. In fact, Bitcoin is so popular in Japan that the Japanese Airline Peach is accepting Bitcoin as an official source of payment.
At the time, FSC chairman Yim Jong-yong stated:
The government will push for the systemization of digital currency on a full scale in tandem with a global trend in the U.S., Japan and other countries.
South Korea Loves Crypto
South Korea was a major factor behind the rising price of Bitcoin, Ethereum, Steem and DASH last month, with the South Korean Exchanges Bithumb and Coinone dominating the trade volume ranks. In addition, South Korea was paying MORE for cryptocurrencies than anywhere else in the world. For many coins, South Koreans were paying 10% extra! One of the reasons behind this is because of the extremely high demand for Crypto and the restrictions on transferring the Korean won out of the country - hence access to Poloniex is more limited.
Also Posted on Boxmining.com : http://boxmining.com/south-korea-to-legalize-bitcoin/
I made this :D
oh wow! awesome!!!
Thanks for the upvote champ! I got a follow from @jerrybanfield yesterday (lost my mind), i hope to do great things for the community :) If you choose to follow me i'll do my best to not disappoint!
sure! following
the day just keeps getting better :D Keep up the good work homeslice!
I was born in South Korea, I can't wait to visit there again and use bitcoins 🙌🏼😀😎
South Korea is awesome !!
Great content! Thanks for sharing
nice one
Another travel spot for me once I reach Lamboland.
Feeling a little bit like govts. regulating and somewhat "accepting" btc will make it the perfect trojan horse. Who wants to use national currencies with 2-3% annual inflation when you can just use btc ? :P
Great news
Great move indeed!
I think Japan is the country at the fore front of adopting bitcoin. South Korea is fast catching up. Thank you for sharing the news with us
Thank you! Keep the good content coming! always enjoy your youtube channel. please follow at @drogs will resteem and upvote:)
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Hey Boxmining, I'd love to work with you on Korea-based crypto matters. How do I connect with you?
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An other very good new for bitcoin and its implantation in the finance's circuit. Thank you very much for this post and to show once again the greatness of this currency: D It is undeniable that bitcoin has its place in the future. I also heard about Australia as a country favoring to the bitcoin legalization. Do not be afraid and be positive ;)