Korean Exchanges Bithumb and Coinone Raided By Police How it Affect...

Korean Exchanges Bithumb and Coinone Raided By Police How it Affects Steem

You've probably heard by now that the Korean Government is planning to ban cryptocurrency trading. If you haven't then just look at your portfolio, especially Steem & SBD down 20% & 25%. Steemit is huge in Korea so it's no wonder our two currencies would be hammered. While this is bad news in the short term, I don't think it's a long term problem for 3 reasons.

We already saw this happen with China last year. Bitcoin and alts recovered spectacularly.
Korea appears to be looking to tax & regulate so this could just be a temporary halt until regs are in place.
Japan is next door and DEXs are here. What this means is business will just move to Japan or to a DEX because crypto is here to stay. Huobi being an example.

While it is disappointing that this is happening, it's been expected. One simple solution is to elect leaders who support innovation and freedom. Koreans are strong willed people, if they want change bad enough they can make it happen. They are also generous community members so let's support them anyway we can!