/biz/ - Business & Finance

Nice just bought 100k

source?

I'm just updating the news here /biz/ as I follow both Korean and US exchanges and news sources. (am gook)

Shinhan Bank is planning to crack down on the crypto accounts as well as pretty much securing their position to pull back from the emerging market.

Take it as a grain of salt, but I'm trying to make profit like all of you.


DC inside (big Korean community) is seeing negative reaction from this morning news.

source?
i'm all in on ICX AAAAAAAAAAAA

This is old and does nothing to the price

Shinhan stated:

"특히 15일을 기해 기존 가상계좌로 입금을 금지한다고 공지했다. 기존 가상계좌에서 개인 계좌로 출금은 허용한다. 출금은 허용하되 입금을 중단하면 기존 가상계좌 거래는 자연스럽게 사라지게 된다. "

Translates to:

Starting January 15th, all accounts relating to Cryptocurrency will no longer take deposits (in fiat). Existing accounts may withdraw to the user's checking account however once all funds are withdrawn, the cryptocurrency account will vanish upon zero balance.


Big news as Shinhan is one of the biggest banks in Korea with many users from Bithumb and Coinone.

>>6300072

https://translate.google.com/translate?hl=en&sl=ko&tl=en&u=http%3A%2F%2Fm.news.naver.com%2Fread.nhn%3Fmode%3DLSD%26sid1%3D001%26oid%3D001%26aid%3D0009807923

OP's right. I'm literally in tears right now.

>welcome to McDonald's

>>6300219
http://www.yonhapnews.co.kr/bulletin/2018/01/11/0200000000AKR20180111175200002.HTML?input=1195m

News was posted this morning on Naver and Yonhap. The part regarding the cease of support was originally stated 2 weeks ago however they have now given a firm date.

>>6299820
Thanks OP, Just sold 100k

>>6299820
Are there any Korean cryptos of interest? They should dip the hardest.

>>6300079
>am gook
and that's where i stopped reading. dec 7 1941, never forgot.

so is ICX fucked?

>>6300226
WHAT THE FUCK DO I DO OP?
MARKET SELL MY ICX? AAAAAAAAAAAA

>>6300419
they terminating virtual accounts, they want real users not virtual users with bad KYC verification. Balance from virtual accounts can be transfered to individual accounts.

They say easier and less complicated to stop virtual accounts than to make regulation on crypto exchanges. they just want to know who cryptotrades. all is fine

>>6300226
should you just tether up for crash? I am sorta considering exiting the market, but I just want to get my achain fork tmrw....

>>6300531
what do you mean by a 'virtual account'?

great opportunity for other SK banks to accept crypto accounts, no?
i mean, yeah, it is inconvenient, but if one of my country's banks did the same thing, i'd just move my money to another one that allows crypto. what's the big deal?

>>6300448
ICX is not even in any korean exchange

>>6300606
anonymous accounts

Oh boy, people saying that it is the end of crypto in Korea are actually double digit IQ.

>>6300531
This this this. Korea has a funny way of doing things being NATsoc and all. Lots of fluff lots of posturing but ultimately they are weak and full of hot air like most NATsoc enterprises controlled from behind by puppets. I bought the Icon ICO... the company behind it may as wel BE the SK government they are that big with the lines between business and government in Korea barely existing... this posturing is about social and cultural standards, taxation and legitimacy... something that must be taken slowly when such a cultural phenomenon comes sweeping through a country. It’s basically like the government wanting to regulate Pokémon cards except the Pokémon cards this time are a fintech revolution

I'm so done with this chon shit. What's a good old fashioned American coin?

>>6300647
yh but it's still a korean crypto and probably gooks are going to drop their bags on binance like crazy
should i go all in on tether before the news spreads?

>>6300605
Meh. All this is noise until we get seamless crypto-fiat dexes.

Tech is faster than governments. They're gonna realize everything they did to try and turn crypto into the stock market 2.0 for the rich was a waste of time.

>>6300628
Thats not how it works kiddo

>>6300782
Every motherfucker here misunderstands the news and the language used by our esteemed gook profiteers... they are cracking down on exchanges and users that don’t have adequate KYC and AML policies.

>>6300606
account created online without ever visiting the bank. bad KYC and id verification. anyone can be anyone, hard to watch.

instead of clamping down the exchanges or making crypto hard to dela with (regulations can solve problems but also create others) - they want to just know who cryptotrade. you need real bank account meeting with real bank clerks to open so they can verify id.

no problem with crypto peopel are just brainlet

>>6299820
lol some boomer exec got upset
korea is fud city fuck that place

>>6300605
I, personally think USDT would be a good alternative to storing value although it's really up to how the rest of the market follows.

>>6300628
Only concern in the article by Shinhan's statement is that other banks (such as Nonghyup and others) are similarly reviewing the same decision made by Shinhan. I feel as if this may create a ripple of migrating one to another and then eventually all realizing the market will come to a dip.


At the moment of reviewing and reading Korean crypto communities, they are generally suggesting for weak hands to hodl fiat, and play conservative until policies are actually made to address this issue across the market.

Taxation law seems most likely for Korean exchanges.


http://gall.dcinside.com/mgallery/board/lists/?id=coin

>>6300882
ICX went from 9 dollars to 8 dollars in 15 mins HOLY SHIT wtf
should i hold this mf?

>>6299820

When will DPRK start supporting crypto currency?

Would it be worth tethering and buying the fud tonight?

>>6299820
who cares about some third world shithole

>>6301027
Don't be retarded. Holding anything to do with Korea right now is mental.

3/10 FUD.

Article clearly states banks are moving to prevent ANONYMOUS accounts/deposits

>>6300750
i bought a bit after the dip, heard this news and tought yas noobcoiners gonna make this dump atleast a few hundreds. so sold for 100$ loss and now waiting for the floor. did i do good /biz/?

>>6301075
yes

>>6301186
>to prevent ANONYMOUS accounts/deposits
And that is to prevent people from not paying taxes. And we all know we don't want to pay taxes

>>6301239
50/50

market cap could drop to 600b tonight, or we wake up with it back to 700b

no one knows what will happen

WHO THE FUCK IS SELLING
YOU FAGGOTS
>b-b-but muh korea..
Shut the fuck up

You know what I did?
i FUCKING MOVED ALL MY SELL ORDERS 100% UP, THAT'S HOW I ROLL IN THIS FREAKING MARKET, YES YOU HEARD ME RIGHT
>100% MOVED UP SELL ORDERS
You disgusting panic sellers...

>>6301361
USD sir we didn't save your ass and invent blockchain to disrespect the USA like that boy

>>6301400
>having sell orders

Ye of little faith

Thank you, gooks.

>>6301186
It does not steer away from the fundamental reason behind this movement with the banks to follow compliance with AML and Korea's nonexisting tax laws. This news itself may not be damaging to FUD the market, but it is a critical movement towards discouraging new cryptokiddies by telling them they have to pay fees and taxes in parallel with the news from yesterday.

My sides are in actual orbit

>>6301464
>Megafon

BRATAN

>>6301361
only sold the coins i bought for 1k euro, only 6.21 eth. not alot just wanna have a better entry point

>>6301514

Why are they banning it?

>>6301500
compliance with AML and KYC laws is a good thing...

i have no respect for people that choose not to pay tax on their gains.

>>6302038
Oh I agree too.

But i know a lot of the communities don't particularly take interest in paying taxes. Just wanted to throw it out there in case anybody was curious as to why this was a big deal.

>>6302038

well they could have rolled that instead of we're going to ban trading. what a fucking asswipe
just state that taxes will be instituted for cap gains on crypto and that bank AML/KYC will strictly be enforced. end of story
justice minister had to pearl harbor his own task force too! so the finance minister is like fuck you dickhead. why don't you tell us what you're up to
so hopefully that bill gets shut down and trading resumes as usual

>>6300079
Hey man another gook here

Which galleries are the most popular for crypto?

And are there any other sites beside DC inside?

NEW FLASH NEWS................

VERIFICATION OF IDENTITY SYSTEM IMPLEMENTING DATE HAS BEEN POSTPONED DUE TO THE LACK OF AML COMPLIANCE PROCESS IN THE BANKS....WHICH NEEDS TO COME FIRST IN ORDER TO PROVIDE MORE SECURE AND TRANSPARENT SYSTEM FOR THE USERS.


And there you go. FUD is real with these journalists.

What the fuck.
tl;dr
Get back to buying

Source: (5 Minutes ago)

http://www.edaily.co.kr/news/news_detail.asp?newsId=01374326619077064&cateNo=

>>6299820
Why the fuck do they need to ruin everything.... This is why we need to keep pushing and get things decentralized...

>>6302490
What an elaborate FUD

>>6302469
Hey man.
알트 마이너 갤러리 is ways better than 빗갤 (비트코인 갤러리) because it has way less shitposting and shilling with "가즈아ㅏㅏㅏ" posts (if you know what I'm talking about lol)

Aside from DCinside, I'd suggest Coinpan (코인판) for general news and other information.

>>6302490

wow, maybe they implement a bank on their KRW then. justice minister needs to get fired.
OH PLEASE KOREANS GET THOSE PETITIONS OUT THERE AND FIGHT, FIGHT FOR US ALL!!!!!!


i wish my government could dick slap that minister. Mr. TRUMP PLEASE TWEET about it. tell him he's a little bitch and that he ought to be audited!

>>6302490
how do you think this will impact the market?
will people exit crypto cause they now have to pay taxes and do KYC? are we about to enter a bear market?

>>6302781
Yes chons are cheap as fuck. A lot of them were likely in it for the tax free gains.

>>6299820
Thanks to you and other Korean anon's who keep us updated on what's really happening over there. I can't trust western media to translate and report properly.

>>6299820
>>6300079
>>6300226
>>6300278
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA MOMMY

hmmmm I wonder if the Koreans are going to say ... fuck it... ill just go back to my wagecuck salary... lol

>>6300763
https://youtu.be/cpYOtlGNEXg?t=5m43s

watch 5:45-6:45

>>6302781
Most definitely. I wouldn't underestimate the community that jumped in for pure gains.

>>6303320
You're welcome anon. Just trying to spread the news so people don't freak out and wojack the shit up

>>6303582
being a wagecuck myself, I can't say I don't depend all that much on crypto nowadays.

>>6302600
Its a fucking

CONSPIRACY
O
N

Literally

>>6300416
I can't tell if this is some shit tier bait or you are actually this retarded.

>>6300763
>South Korea is natsoc
Holy shit, the stupidity on this board is off the fucking charts.

>>6302634
https://www.youtube.com/watch?v=d0uwh1T1VYg

>tfw too americanized to understand korean humor

>>6303927
1 rape wasn't enough for you zipperheads

>>6304053
woah

anybody seeing this perfectly Yotsuba B colored ID? trippy

>>6304067
damn

>>6300763
>worst korea
>natsoc
Holy shit you delusional fucking amerifatt weaboo

>>6304053
Korea is not Japan you nigger.

>>6304191
Yeah

but it should be.

>>6304053
ID God

>>6304053
>>6304067
NICE!

>>6300416
Japs were onto something

>>6303927
Found the dog boiler!

>>6304285
>tfw Greater East Asian Co-Prosperity Sphere will never come to fruition
>you will never see all of Asia united under one Japanese roof
>you will never see all shitty Asian cultures replaced by superior Japanese culture

they flew too close to the sun. also fucked with USA

>>6300766
dragonchin

>>6302915
>>6302781
NANI??
how stupid are you cunts LOL
they are going to give up FREE money just because SOME of their FREE money gets taken by tax.
yup makes sense to me. i know i would rather earn 0 dollars instead of earning 1 million dollars after tax.