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[SCAMEXPOSER]

Privacy coins include Monero, Dash and Zcash, they are termed privacy coins because they mask their transactions which are difficult to track by law enforcement agency nor financial regulators, they are mostly use for illegal transactions.

The financial services commission for South Korea has ban Crypto Exchange platform from dealing with transactions involving this coins, the regulator also mandated the Exchange platform to implement .KYC as a must .

 

[Niftyicon]

That's the problem there, they bend rules just to fill their pocket and when people find out they destroy everything so that they won't be cought.
Korea government will never do so no matter the problem and if an individual is corrupt or cut doing such act, they kill him or cut off is hand, I read about it in a report about and official email who was cut stealing and that was is judgement

I don't know about cutting off the hand but I know that I once read that China sentences anyone guilty of corruption to death. I am sure this will deter those who want to be corrupt.

 

[Ginatime]

I don't know about cutting off the hand but I know that I once read that China sentences anyone guilty of corruption to death. I am sure this will deter those who want to be corrupt.

China rules are different from Korea, Korea takes the sentence to another level that's why you will never see a nation go against their terms expcially business wise.

 

[Niftyicon]

China rules are different from Korea, Korea takes the sentence to another level that's why you will never see a nation go against their terms expcially business wise.

South or North Korea? Maybe North Korea given the type of government they have there. I think that South Korea is more liberal and lenient.

 

[Josemendez]

The financial services commission for South Korea has ban Crypto Exchange platform from dealing with transactions involving this coins,why do they have to do that

The said coins are termed privacy coins and thus permits scammers and fraudsters to use it in carrying out fraudulent activities , thus for security of the company it should be banned

 

[Ginatime]

South or North Korea? Maybe North Korea given the type of government they have there. I think that South Korea is more liberal and lenient.

Yes south Korea is still developing since the last report says they are just constructing some building and things are really cheap in that part of Korea

 

[George10640]

I think it is good for now until tracking services have been enforced. I think safety is what is needed to peoples money .There are more coins that people can use so banning them won't bring much problem to people in that country.I hope when the guidelines rules will be enforced in future,the government will bring the coins back.

 

[sagefave]

I guess most government are bent on monitoring the exchanges and are demanding kyc verifications. This may discourage a lot of traders who may want to remain anonymous.

 

[Niftyicon]

I feel that this should even go beyond South Koreà. KYC should be enforced on other exchange sites. This will help to have a better level of transparent transactions.

 

[onlyprofits]

I am 100% in agreement with the prohibition of transactions through privacy coins, since this has resulted in their being used for money laundering or for other purposes outside the law.

 

[Niftyicon]

I am 100% in agreement with the prohibition of transactions through privacy coins, since this has resulted in their being used for money laundering or for other purposes outside the law.

Absolutely! These privacy coins are easily abused and personally, I also do not support any transaction medium that gives crooks a means to hide their heinous activities.

 

[achawaskey]

It so because the creator of those private coin has illegal activities on their mine. If you are out in business you do it legitimately according to the financial laws of your host country. It is right to ban them.

 

[sagefave]

The issue of fraud and scam online is a global plague and the perpetrators of these online crimes have so easily adopted the use of crypto currency in carrying out their transactions. So government are trying to minimize this i giess