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Korean bank/exchange limitations


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Thanks for the information.

Based on what you listed here I wonder why would a government, that is heavily invested in crypto do their darnest to complicate or even stop new money from flowing into crypto. Don't they want their investment to appreciate? Don't they want to be able to cash out at some point?

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9 minutes ago, Ylod said:

Thanks for the information.

Based on what you listed here I wonder why would a government, that is heavily invested in crypto do their darnest to complicate or even stop new money from flowing into crypto. Don't they want their investment to appreciate? Don't they want to be able to cash out at some point?

It is to divide up the verification process to each banks so that the extra work does not get accumulated to only one bank 

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50 minutes ago, Ylod said:

Thanks for the information.

Based on what you listed here I wonder why would a government, that is heavily invested in crypto do their darnest to complicate or even stop new money from flowing into crypto. Don't they want their investment to appreciate? Don't they want to be able to cash out at some point?

They are primarily concerned with capital controls and preventing economic/social destabilisation. Remember that 50 years ago this was basically a third world country. 30 years ago it was still basically a dictatorship. 

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6 hours ago, Seoulite said:

They are primarily concerned with capital controls and preventing economic/social destabilisation. Remember that 50 years ago this was basically a third world country. 30 years ago it was still basically a dictatorship. 

it's still basically a dictatorship.

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6 hours ago, Ylod said:

lol, I can guarantee that in 6-7 days another government will come out with similar news. It's like clockwork. I can't believe people are still bothered after everything that came out in the past month. :D

Edited by iLeeT
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