The South Korean Finance Minister announced yesterday that they would be drafting a bill to ban cryptocurrency trading in the region.
Today, the public has responded:
(Source: ~~~ embed:951710054868135936) twitter metadata:aWFtam9zZXBoeW91bmd8fGh0dHBzOi8vdHdpdHRlci5jb20vaWFtam9zZXBoeW91bmcvc3RhdHVzLzk1MTcxMDA1NDg2ODEzNTkzNil8 ~~~
Over 100k signatures have been filed to reject the trading ban proposal and another 30k signatures have filed for the removal of the two ministers from their positions.
Ouch!
I would imgaine that they didn't think drafting such a bill could potentially cost them their jobs!
Oh and by the way, shortly after the news broke about South Korea potentially banning cryptocurreny trading, this was released:
(Source: ~~~ embed:951428854085689344) twitter metadata:aWFtam9zZXBoeW91bmd8fGh0dHBzOi8vdHdpdHRlci5jb20vaWFtam9zZXBoeW91bmcvc3RhdHVzLzk1MTQyODg1NDA4NTY4OTM0NCl8 ~~~
Isn't that nice.
To recap:
There is likely no trading ban in South Korea in the short term.
AND...
The earlier announcement might conceivably cost some officials their jobs.
Stay informed my friends.
Follow me: @jrcornel
Thank you for posting @jrcornel.
What a quick response.....good luck to them.
Cheers.
Well i think this is for the better because trading virtual items are arent good for the economy of farmers and townsfolk.
Bro what do you mean I sell my World of Warcraft gold all the time and the farmers in my area do just fine
And that should scare all of us. Even with all the advances in technology, the human race is still extremely mentally retarded.
ONly til they start working on themselves, either cause they want to or (more often) they have to :)
Korean Citizen wants Head of the Ministry of Justice FIRED. Finance Minister said Head of the Ministry of Justice is WRONG, we have not considered banning and basically Too Big to Ban.
There's alot of innovations coming out from South Korea, so they would like to not ban it, but regulate or put guidelines due to money laundering.
Are you south korean?
Money is just a form of language to express value, why would it be bad for farmers or townsfolk? Farmers have been on a downward spiral for a long time, dying out because the U.S. government importing crap food from China. Crypto will help farmers and townsfolk in so many ways.
I would imgaine that they didn't think drafting such a bill could potentially cost them their jobs!
But WAIT...perhaps there's MORE
how bout confiscating all their assets..
then deporting them to NORTH Korea.
they should fit right in.
That's a no brainer! Buy Crypto with credit cards, get points...take a vacation. That's cool!
Already done it!
Yes, and yes! Please!!!
They would probably take their cheaply bought Bitcoins with them to North Korea.
North Korea were the highest beneficiary of Bitcoin.
They hacked and stole Bitcoins and hired Chinese miners to mine for them in China.
Then, the Bitcoins skyrocketed. Lol
This mobilization from our brothers in Korea will send a very loud and crisp message to all crooked, bankster-loving politician in the West: you mess with crypto, you'll be voted out in a minute!
They can try their best but crypto is the future
These press releases have a big impact on the market fluctuation! We need some big institution to embrace it before the GOVs will be involved. Japan is an exemption.
Yea it is ok because the people united will keep things in motion.
True as this will be a good thing to boost the trading of Cryptos
yeah you are right @makeithappen
What's interesting is that a politician's stance on cryptocurrencies might be one of the hot topic policy issues going into the next presidential election. It may soon be political suicide for someone in office to oppose cryptocurrencies in SK. Koreans have been historically been very vocal about things they want changed, the impeachment of then President Bak Geun Hye is a good example. Let's see if they can leverage that voice to maintain the security of crypto trading this year!
Now what I wonder is if the cryptocurrencies can become so ingrained in the political fabric of the US, like debate over gun control or how to handle healthcare, that any move to ban crypto will be met a force like we're seeing in Korea. Because if that level of legitimacy can be established, it would be a HUGE signal of staying power for the crypto space.
Agreed 100%. Great comment!
It's great to see them stand up for their rights. It's only a matter of time until the blockchain technology and cryptocurrencies become a big part of american politics. The public here is just starting to hear about these things, and it's still relatively unkown territory for most people in America.
You comment is as cool like one of good articles i've read :) just awesome!
based on exchange prices, Koreans seem to be very eager to get into the crypto game.
Who has a mortgage anymore?! I just bought my house with my bitcoin profits...
I totally agree with you
PHEW...
let's go back to our regular program.
Thanks for the news.
Hahahhahhaa
Looks like South Korea found out it is tough to stop a Tsunami once it has gathered a head of Steem 👍
Haha yes, hopefully that is the case. Nice pun! :)
happy to read it...... crypto fight back
Grandpa I heard a rumor that in 2020 your Social Security check is going to be paid in bitcoin.
what a rollercoaster
I thought there'd be a huge backlash, well done to the Koreans for standing up.
There's nothing governments can do to stop this! Pandora's box has been opened!
The best currency as at now is cryptocurrency... It has more value than any other currency.
Steemit is number one.
We'll steem on, There is no stopping
OMG nice
I don't really know how they were originally thinking they could effectively ban it anyways. At best they could get the sellers from their own country to not accept the crypto currency, but stopping your folks from trading crypto with users from other countries etc, I don't see how they could really stop that. And let's not get into the topic of how they'd most likely hurt themselves more with that decision in the long run anyways.
Yea I agree. I think they were thinking if they could shut down centralized exchanges they could get rid of most of it. Then just fine anyone else caught transacting or trading in it.
I don't believe that cryptographic currencies can be banned or prevented. The market and decentralised regulation will always prevail. As long as there's an offer, you can suppress it. But don't stop it
Now even the Ministers are manipulating the markets , may be to buy some cheap coins!
This is good for EOS. As we have seen in the price spike today. 📈
This is great news, all people of the world should come together and stand as one, to stop evil corporate governments stealing from us and telling us how to live, thank you sir for this article.
This is good news! Hope China will act like this !
no one can stop cryptocurrency,This is new world of earning money @jrcornelj now everyone is supporting cryptocurrency.There are unemployment everywhere and this is a good source of income,why government is against it?government only need taxes to pay and most of the people are paying taxes on cryptocurrency.I can't understand what the government wants?but thanks to share with us @jrcornel
Crypto can't be silenced. They need to get used to that. 😊
What a time to be alive! We claim it as Americans but the truth is everyone wants the opportunity for life, liberty, and the pursuit of happiness.
Cryptocurrency is something that you can not stop however much you try. What happened in South Korea today is a great sign of assurance that Cryptocurrency is indeed the new way to trade, transact and move the globe forward.
BTCs come in handy, are secure and convenient. It is high time the world woke up and embraced the cryptocurrency ideology.
To my fellow Steemians, let's keep working no matter what because we are assured from this happening that our earnings will be safe always.
Good movie - cryptocurrencies aren't the danger! The danger are politicians which want to control the people life!
Hi sir, i'm here and I see your post, it's really awesome post
The best currency as at now is cryptocurrency... It has more value than any other currency.
Steemit is number one.
We'll steem on, There is no stopping
@jrcornel
let them do their thing :)
Verry good
Wow! Power of the people, ehh...?
Hello Steem World Please Upvote and I will upvote back.
https://steemit.com/steemit/@kinaabderrahmane/here-are-the-books-that-everyone-must-read-before-starting-to-invest-in-digital-currencies
Verry nice
At the end, and even if some might not believe it, but any government will only survive if they represent the majority of the people. If the majority want to have cryptocurrencies because they have more benefits then downsites they cant ban them.
Nice one
Typical politics view : « we can’t control it, can’t get from it so let’s ban it ».
Well, try again !!!
Rather than trying to ban cryptos outrightly, governments should rather embrace it..because like it or not..cryptocurrencies are here to stay.
Being jobless now will give them time to think properlly and conduct more research on cryto community. Nice post, it is updateful and informative
Hard to stop a massive community that supports something. The people control everything when they stick together. Governments are forgetting, they do not personally control what they want.
Excellent post...just goes to show that bitcoin and other cryptos cannot be killed or stopped. It's like trying to catch the wind :) After this South Korea drama, hopefully we will be back to a bullish market.
Thanks for the update. There is a lot of monkey business behind the scenes for sure!
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Actually they are busy in making Nuclear weapon only
😂😂😉😉😉😉😉😁😁😁😀😀😊
Wonderful your news , i like your news . i want your next post for sharing us,,, best of luck
Excellent post, very well articulated. thank you so much.
OMFG ....people no longer have time be messed around!
Those ministers should face the wrath of their actions!
This kind of solidarity should be copied by many other countries.
This seems like a big impact, however south Korea seems confused but I think there needs to be some change in personnel in Korea
i like blog you fren