Regulation being enacted by the South Korean government has just been leaked:
>Translated at CCN, the four leaked regulations expected to be implemented by the end of this year are: >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.
>Essentially, the South Korean government has approved and recognized bitcoin and cryptocurrencies as a new and major asset class, and intends to regulate exchanges as legitimate financial service providers.
Landon Johnson
this website has the worst formatting ever. but thanks for the heads up. I should tether it anyway.
Michael Lee
Accredited Investor in the USA:
In the United States, to be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year.
If the regulations in South Korea are similar to other countries then to invest in Bitcoin in South Korea you will need to be rich as fuck.
This cuts out a huge portion of the market and will force mass sales in quick succession on South Korean exchanges.
Not to mention regulation number 4 from the above post:
>4. Temporarily suspend institutional investors and retail investors from investing in crypto-currencies.
There is going to be a temporary blanket ban on all investors. This will surely lead to mass sell offs.
Lincoln Perry
Very bullish, thanks op
Kayden Morales
Sounds like the whole point of these regulations is to keep the poor people in their place and not to protect anyone.
Caleb Parker
Good BTC belongs to the west
Gabriel Reed
Is it FUD if its actually true?
Very possible but I foresee some selloffs when this regulation is announced officially in the next days or weeks.
spread the word - she is going down!
>Essentially, the South Korean government has approved and recognized bitcoin and cryptocurrencies as a new and major asset class, and intends to regulate exchanges as legitimate financial service providers.
A new and major asset class... but only if you have 1 mil in the bank.
No probs - good call to hang on the sidelines for this one.
You are a brave man.
I agree they are ridiculous but they represent a money making opportunity for us outsiders.
For sure
Levi Flores
Just hope you anons know that binance servers are located in South Korea. I already took everything out.
Owen James
Currently from the Bithumb exchange alone the South Koreans account for more than 10% of daily volume.
They post that story every 3 months The fact that you follow ccn shows how much of a newfag you are
Michael Martinez
accredited aka rich investors are the ones really moving prices out there. normies and plebs and poor ass bizzers are just riding trends and maybe adding some 5-10% into the mix.
Since everything is so volatile we will hardly notice it. if its not illegal, its BULLISHHSISHSIHSISHISHSISSHSHISHSIHSSH
Everytime i see these threads i buy in after about 10-15 minutes - Fucking retards.
Isaiah Collins
I’m afraid to sleep now. Is market going to crash?
Josiah Ortiz
>implying it wouldn't have already dropped 30% if it really mattered
Sell boys, people around the world are just fucking waiting for the dip.
Hudson Scott
Holding BTC when everything else is mooning. WHY.JPEG
Aaron Martinez
Kek.
Everyone wilth half a brain knows that when government wants to ban X, then BUY X MORON AND HIDE IT, because you are going to get fucked in the future precisely because you no longer have X.
Joshua Reed
Fiat baby
It alright.
my link states there will be a temporary ban in plain Korean. Much different to a mere report.
The south korean market is unique due to the Bithumb exchange. All you need is a bank account and the app and you can trade. This is the reason bitcoin has gone viral in South Korea.
I agree that whales do the moving in general but in this South korea specifically the plebians command a much greater proportion of the trading volume.
I also agree that BTC it is bullish in the long term. After all if China ban couldn't shake markets then South Korea will surely not. I am simply highlighting an opportunity for temporary gains
Buy in 10-15 days maybe once the price dips on this news.
Jeremiah Gonzalez
>FUD i bet you said exactly the same thing before chinese ban
Ayden Sanchez
why not tether?
Ian Williams
And how much did it go down then?
Also Bithumb has extremely low volume At 16896 there's 62 buy orders At 16988 there's 16 sell orders
Nolan Jackson
Submitted without a comment...
Adrian Nelson
Extra risk that it may be worthless. If it is to (very) temporarily ride out the BTC storm without triggering a tax event then I say go for it
Liam Campbell
Looking at this volume it looks like some of the big dogs will take a hit as well.
Ripple, Ethereum, Bitcoin Cash, Litecoin, are all in the crosshairs.
Be careful moving into alts as they will likely be crushed in the short-term along with the big players.
Tyler Myers
This is all thanks to Rodger Ver and Jihan Wu. All Korean exchanges received a warning after the first bcash pump in November
Brody Mitchell
how new are you? downloaded coinbase week ago? it went down 50% dingus bithumb goes up to 30% volume all the time, thats like 3 time more all chinese exchanges had
Nicholas Parker
$25k tomorrow EOD. Screencap this faggots
Ayden Scott
Well surprisingly there come the FUD campaigns just right after the biggest bull markets. I wonder who wants the price lower now so he can buy in after seeing what potential cryptocurrencies have.
William Gomez
This means; goverments tend to regulate it instead of banning. In other words, it is recognized in higher level. Tomorrow 19k.
Austin Thompson
Market sure doesn't look like it cares
Gabriel Sanders
please stop posting, just showing how new u are.
William Flores
this is bullish news as it can get. south koreas are dropping their entire life fucking savings on crypto and they will be damned if they will let their corrupt socialist government take their shit
Angel Rivera
>17k for 1 btc youre not fooling anyone juden
Jayden Harris
not in the short term. any news that will incite panic selling means already overbought bitcoin will be going down a lot
Tyler Price
>goverments tend to regulate it instead of banning you don't understand how governments work, don't you? several years ago my government started regulating internet 'to protect children' and now we basically have chinese great firewall 2.0 with full-blown censorship and mandatory traffic logging it's always starts small to avoid panic and opposition
Landon Murphy
Top kek Time to up the stack faggot
Ian Williams
It will incite mass buying with people trying to get in before the regulations are effective.
Owen Cook
you don't understand how cryptocurrencies work, don't you?
Noah Robinson
FUD
Christopher Bailey
>you don't understand how cryptocurrencies work, don't you? they don't work right now at all they are just speculative stock they will survive any ban but they will loose most of their value if you can't easily and legally change them for cash
Oliver Perry
This.
Not to mention all the many btc forks coming up very soon
Brayden Allen
This is an interesting possibility. It will be in the hands of the pleb South Korean investors.
They will decide our fate
Hudson Scott
>we are going to regulate weed next week do you think people would buy some fucking weed right about now?
Charles Bennett
>Governments >looking out for the people I trust my current President but the rest of the government can go fuck itself
Daniel Collins
BUY BUY BUY BUY BUYBUY
Jonathan Green
Everything is already PRICED IN dude. This has been news for some time already. Do you live under a rock?
Wyatt Perry
Because that's exactly what happened when the Chinese regulators essentially banned bitcoins and other crypto.
Jose Howard
keep your money in btc, eth, neo, bcc and have stop losses set in usdt. there, now where is the problem?
