The representatives of South Korean nationals are gathering in parliament today to decide on the situation of cryptographic money trade within the country. The allegations that have been filed up to now about the ban appear to be serious. Bitcoin and other crypto money can enter a decline wave.
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Asian countries tend to ban crypto-currency trading activities in the country, especially in Bitcoin. The most important explanations for this are corruption and money laundering operations.
For the past two weeks there have been reports of attempts by South Korea and China to ban, with threatening statements from government officials.
Trade in Asian countries is an important part of global trade. The decline in the number of investors as a result of bans has a direct impact on prices, as investors always set the final price on systems like Bitcoin.
In South Korea, the decision comes out today:
According to South Korean state official Hong Nam-ki, government officials are divided in two on crypto money trading. At the same time they were informed that they would reach a decision today in a parliamentary session.
After two weeks of rumors and bans in China, the price of all crypto money, including Bitcoin, has been significantly affected. If any ban in South Korea comes into effect, it could bring about a wave of decline.
Looks like we just have to wait and see :) Thanks for sharing.
Thanks for sharing!
I really hope they don't ban crypto currency trading.
And that china does eventually support it, as that would really boost innovation and support for alt coinsm as well as the market.
But if it does happen i sure hope i have cash to buy the dip.....just saying!
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