Crypto: In Korea, the giant CoinOne bows before regulators

The Crypto we reserve many surprises for the year 2022. Very good, like updating awaited network Ethereum . The most anticipated exceeding the $ 100,0
The Crypto we reserve many surprises for the year 2022. Very good, like updating awaited network Ethereum . The most anticipated exceeding the $ 100,000 mark for Bitcoin . The release of several blockchains and a massive pump of many crypto currencies . However, some announcements tarnish this enticing program. And maybe we should finally turn to real estate and buy a small farm in the Creuse!

CoinOne Will No Longer Allow Withdrawals

This is news that will shake the crypto world . South Koreans will soon no longer be able to withdraw their crypto currencies . At least, they will no longer be able to do it to a wallet without identification.

Indeed, the centralized exchange CoinOne, based in South Korea has made an important decision. This in order to comply with Korean law which is becoming tougher. Withdrawals to external wallets will therefore no longer be possible. As long as they will not have the opportunity to have a KYC.

This therefore takes into account all "hot wallets  ", but also "cold wallets ". The biggest representatives are therefore Metamask, TrustWallet and even Ledger.

This measure will take effect on January 24, 2022. However, current users have the option of registering their external wallet addresses to place an authorization. Those which were therefore authorized before the fateful date will not be revoked. For now.

South Korea also argued that this measure affects all centralized exchanges. And that it will not leave a company in the Korean market that does not comply with the current legislation. CoinOne explained on one of its pages the reason for this new system.

A System That Defends Itself Against Crypto
The world of cryptos may well change in Asian countries, as some are becoming more and more restrictive. Like China, for example, which has banned the mining of crypto currencies on its territory. The farms of mining whole were dismantled. South Korea has also offered to revise the tax code. In particular to allow the tax authorities to directly withdraw cryptos belonging to fraudsters.

And if you don't really care, warm in Europe, don't be fooled. These measures are likely to arrive soon in our states. Society as a whole, whether Asian, American or European is fighting to ban crypto.

It is now widely accepted that blockchain technology is inconvenient . And it mostly disturbs banks and institutions. Its growth and the price of  Bitcoin are all indicators that increase their fears all the more.

Any economist has already understood that the current system, with its constant inflation and regular crises, will not be able to hold up. Not over the long term anyway. Inflation is ultimately due only to a race forward on the part of the developed countries. By printing more and more greenbacks, they are trying to slow down the collapse of their system.

And Bitcoin could, indeed, accentuate this collapse. Their fears are therefore justified despite everything. However, the interest at the moment is not in trying to keep a dying system alive, but rather in taking an example. The Bitcoin and crypto currencies in general should be able to serve an example to the world of what to do. What to do to build a sustainable economy.

The Dark Future Of Cryptos
A lot of people own crypto today. And even if the power of the masses can be important… We must not forget that many countries have all the rights. To think that there will always be an alternative to avoid restrictions is unrealistic.

It is therefore all the more important, at the time in which we lived, to make crypto currencies known . The more people understand their interest, the more reluctant leaders will be to ban them. Public opinion remains the only weapon of the people and it is, for them, much more important than the billions.

But cryptos must quickly gain momentum in our society. Because it could well be, otherwise, that we end up arriving in a more obscure world. A world where the possession of a simple coin will be punished by law. Where the trading of crypto currencies will be completely prohibited. Where crypto bank cards will be just vulgar pieces of plastic. And if that is to happen one day, we might as well take advantage of it while we still can. Because it will be done gradually and we will have plenty of time to withdraw our profits beforehand.

The graphics are currently reliable indicators about the health of crypto. And today they are doing very well. Even rather perfectly. With ever more regular ATHs, good days are still to come in spite of everything. So if you still don't have any small crypto, go for it! Because it may be an opportunity that your children will never have!

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