DON'T FALL FOR THE FUD: South Korea ISN'T banning crypto trading.

in #cryptocurrency7 years ago

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My friends, we are witnessing another deception attempt that the mainstream medias offer on a daily basis.
CNBC and other medias are just throwing sh*t at the crypto space just for their own interest putting out deviating articles with overclickbaiting headlines.

Meainstream medias reported that the South Korean government is planning on banning all crypto exchanges to avoid cryptocurrency trading.
Well, this is definitely NOT the case:
South Korean Minestry is willing to shut down only certain kind of exchanges, those that are not compelling with the regulatory framework that will be published on the 20th of January.

As stated on an article by CCN earlier this morning, the regulatory framework will be implemented for the following reasons:
1- Prevent unaccredited investors from dealing with losses through highly volatile cryptocurrencies.
2- Prevent strictly regulated cryptocurrency exchanges from operating as speculative platforms for unaccredited investors.
3- Request banks and exchanges to ensure underaged investors and foreigners cannot open trading accounts on cryptocurrency exchanges.
4- Temporarily suspend institutional investors and retail investors from investing in cryptocurrencies.

Hope this clears up the FUD, reason why prices have been going down tonight.

Please consider resteeming and upvoting this post to raise awareness.
And please... DON'T FALL FOR THE FUD.

Happy trading. Be safe.

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This is good news indeed. I don't know why adults have to act like children when they do things like this.

Leave us crypto guys the hell alone! Just because we're successful doesn't mean you have to come meddle in our affairs.

Upvoted

Thanks buddy! CNBC and The Wall Street Journal (the two main medias incriminated for fake news posting) should be informed before posting shitty news to litterally millions of people.
Hopefully people will recognize it's all ok and turn off panic mode.

Yea absolutely. This is just causing unnecessary drama which we don't need right now. Irritates the crap outta me to be honest.
I want to thank you for this post as I was really worried, but you've put my mind at ease.

So true. I think this is much needed and to get some correction in the market too. But the scare tactics the media has made and will make out of this is ridiculous. Myself....I'm going on a shopping spree :)

Thanks for the post and spreading good news about the South Korean situations.

Well happy shopping then. See you around ;)

All these dips caused by FUD show how fragile the market is. Weak hands are selling over every little piece of bad news. Exploiting this fact can make you a lot of money right now!