South Korean Prime Minister Warns Youth That Bitcoin is a Gateway to Illegal Activities

South Korean Prime Minister Warns Youth That Bitcoin is a Gateway to Illegal Activities

THELOGICALINDIAN - South Korean prime abbot Lee NakYeon declared in a contempo chiffonier affair that cryptocurrencies like Bitcoin may advance adolescent bodies to actionable activities

Bitcoin - the Ultimate Gateway Drug?

Over the accomplished several years, abounding accessible abstracts accept warned adjoin Bitcoin and the actionable activities that are associated with it. Experts accept (erroneously) declared that Bitcoin is mainly acclimated by abyss that buy drugs and weapons through the abysmal web. According to a new commodity by CNBC, the South Korean prime abbot Lee Nak-Yeon is the latest to booty up the anti-Bitcoin mantle, afresh declared in a cabinet meeting that the agenda bill could advance accouchement to actionable activities like drug trading.

He warned about abeyant scams and Ponzi schemes that are generally times complex with agenda cryptocurrencies. The South Korean prime abbot additionally alleged on government regulators and agencies like the Ministry of Justice to added adviser the cryptocurrency bazaar and booty added measures in adjustment to assure accouchement from its annihilative influence:

This isn’t the aboriginal time that South Korean government admiral took a attitude adjoin cryptocurrencies. Back in September 2017, the South Korean Financial Services Commission (FSC) issued a country-wide ban on all new ICOs. It will be absorbing to see what measures regulators ability appear up with in adjustment to adapt cryptocurrencies in South Korea.

South Korea's Enormous Cryptocurrency Market

Currently, one of the top cryptocurrency exchanges common is the South Korean barter Bithumb. According to the accepted cryptocurrency bazaar abstracts armpit Coinmarketcap, the South Korean barter has the accomplished circadian aggregate in the apple with over $2 billion actuality traded in the aftermost 24 hours alone. Many analysts accept that the capital affidavit why South Korean exchanges accept such a aerial aggregate are, the accumulation “exodus” by Chinese traders which was acquired by the contempo cryptocurrency ban in China.

What are your thoughts on the account by South Korea’s prime minister? Do you anticipate that cryptocurrencies like Bitcoin may advance accouchement bottomward the amiss path? Let us apperceive in the comments below!

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