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Re: Bitcoin News & Discussion

161 by global
The Distributed Silk Road - Crypto
Thanks for posting that video Mr. Tools. So the plan is to go crypto. I'm pretty ignorant about all this but I would like to know more. For example, how these changes will affect us, how will crypto interact with paper currencies or will all paper currencies as well as the SDR be converted to digital currencies eventually, and if so, then how will these changes affect trading Forex?

Are there any other videos you can recommend to learn more about the switch to a digital economic system and how this will affect the average person? Thanks.

Re: Bitcoin News & Discussion

165 by mlawson71
Officials in South Korea have stomped their foot, and have proclaimed that they will aim to eradicate all illegal cryptocurrency transactions in the nation. The countries official gathered this Monday in a meeting where they discussed crypto volatility and the usage of digital coins in money laundering.

The government is currently in the midst of drawing plans for crypto regulations, whose main purpose will be aimed at tracing every crypto transaction in the country. The report further mentioned that firms dealing in finance are required to report all suspicious transactions to the Korean Financial Intelligence Unit (KoFIU).
Source
That's the thing about cryptos being mainstream, that also means governments would want to regulate them entirely, like they do fiat currencies.

Re: Bitcoin News & Discussion

166 by RplusT
mlawson71 wrote: Mon Apr 19, 2021 8:58 pm Officials in South Korea have stomped their foot, and have proclaimed that they will aim to eradicate all illegal cryptocurrency transactions in the nation. The countries official gathered this Monday in a meeting where they discussed crypto volatility and the usage of digital coins in money laundering.

The government is currently in the midst of drawing plans for crypto regulations, whose main purpose will be aimed at tracing every crypto transaction in the country. The report further mentioned that firms dealing in finance are required to report all suspicious transactions to the Korean Financial Intelligence Unit (KoFIU).
Source
That's the thing about cryptos being mainstream, that also means governments would want to regulate them entirely, like they do fiat currencies.
Interesting! That did not take long...... :D A few comments back I addressed exactly that issue. It was just my personal opinion based on the fact that governments will never surrender control. Thanks for the info!

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