Bitcoin Regulation: How It Would Happen In South Korea And What Could Happen To

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Bitcoin Regulation: How It Would Happen In South Korea And What Could Happen To The Price

Numerous countries have launched major crackdowns. And many more might be coming

ANDREW GRIFFIN

 

A Bitcoin (virtual currency) hardware wallet and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015 / REUTERS/Benoit Tessier

 

Bitcoin has been surging and falling in recent weeks. And it seems mostly to come down to one thing: regulation.

 

The lack of regulation is, for now, a large part of bitcoin and other cryptocurrencies’ intrigue: they seem to allow people to avoid the traditional restrictions in place in money and other assets. But they’re also part of their bad reputation, with the same anonymity and decentralisation allowing them to be used for crime.

 

Many governments have suggested they could introduce such rules. But it’s still not clear what they’d look like, or how they’d arrive; here’s an attempt to predict what might be to come in that most unpredictable of markets.

 

Full story: https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-regulation-latest-south-korea-trading-ban-how-happen-price-what-happen-rise-drop-a8183136.html

 

-- INDEPENDENT 2018-01-30

[mrfaroukh]

There are few main problems with Bitcoin. The majors are consumption of too much electricity and the other it is been used by criminals to avoid tax, black money, drug money etc.

 

South Korea trying to regulate it in a way that it should be connected to the bank account. So no criminal activities would be allowed. In that case what would be different between the local currency and Bitcoin.

 

I guess it is only one way and that is going to go down.