South Korea Officials Investigated For Cryptocurrency Trading
According to a news published a few hours ago here (Korean content), it seems that a few officials from the Financial Supervisory Service (FSS) invested in cryptocurrency and then they liquidated their positions, just before the announcement of the "regulatory clampdown" by the Ministry of Justice. This may be seen as market manipulation, negligence, etc.
Events are still unfolding and it's still very early to form an opinion on this specific situation. It may not even mean what it says, since there are no restrictions in trading, at the moment, but it does paint a very interesting image of the size of crypto phenomenon in South Korea. When members of the FSS are trading, you know that you're dealing with a huge social pressure, one that will most likely burst in unpredictable ways, if not properly contained.
As announced during the last few days, South Korea is expected to make a formal announcement today about closing or not closing domestic cryptocurrencies.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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I just hope that they wont ban them and give ICON and the local projects a chance to grow. When I first read about the SK situation, I thought maybe they try to buy in more cheap again... I don't know like most of us, but I am curious what happens - the next days until february will be exciting.
It's really hard to know what's what in this world of crypto. There is alot of FUD and rumors floating about. With Korea being such a force in the market at the moment I think it'd be best for Government to stop interfering with crypto.
I also can't imagine that they give up their role as a big player in crypto-market. Most likely they will introduce strict guidelines (KYC and stuff like that), and thats it.
Well S.Korea is just a part of global crypto market, I am more worried by the fact I can't deposit or withdraw Steem from OpenLedger right now...
Just hope that they don't make any negative announcement today
power corrupts.
absolute power corrupts absolutely.
they couldn't resist the temptation to become RICH.
guess it didn't work out the way they'd hoped..
good thing sepaku is a Japanese tradition...not korean.
Yes that correct .and they want to make that harder to let people be away . But now we live in technology life that mean we can know evey details .
yes you are right.
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I posted an article on the pull back this morning ....
Just dircovered you and am going to take time to go through your blog !
Bonne journée ,
A red fish 🐟
Good to know that. I hope they make good announcements today amd market will cheer.
It won't stop to amaze me how some elites want to make the poor poorest which every kind of manipulation. A thing is absolutely clear for blockchain, that is a disruptive new way to connect a better and fairer world
Informative post
Hey @dragosroua sorry for the unrelated comment, but I'm ready for the interview for the Steem research project in the appearin channel you sent me. Can you come online there? :-)
2 secs. I'm in now.