South Korea bans cryptocurrency trading for its officials

South Korean government issued an as of now unofficial ban for all the public servants to trade or invest in the digital currencies
06 March 2018   1093

South Korea is one of the largest cryptocurrency markets and usually regulations their government puts through affect the market in some way. Now the impact wouldn't be so huge, but the chances are, the affected group wouldn't be very happy about it. You see, Korean government effectively banned all government officials from trading cryptocurrency, even if it's not related to their jobs.

As reported by Maeil Business Newspaper, South Korea has issued a ban on virtual currency holdings and transactions to all civil servants. The document entitled “Virtual currency holdings and transaction-related information for civil servants” has been circulated through the departments. In this document the personnel department requested that all government officials refrain from holding and trading virtual currency, especially in the work hours, even if there is no job relevance. This is actually the first case of government banning cryptocurrencies for all its public officials.

The disciplinary actions are not defined by the document, but are openly encouraged, because cryptotrading is considered a “violation of the prohibition of forbearance obligations under the civil servants' law”. Each ministry is free to judge the possibility and severity of such a disciplinary action.

As you can see, the South Korean government is quite adamant to stop any possibility of any kind of trading or investing in the cryptocurrencies using information learned by officials during their duties. This is, while quite strict, possibly the best approach for this kind of situation, because there have already been accusations of officials' insider trading and market manipulation using undisclosed information of future regulations.

BTC to Reach $1M, IBM Executive Believes

Jesse Lund said Bitcoin will reach $5000 by the end of the year, but he believes it will reach $1 000 000 in the future
22 February 2019   109

On the eve of 2020, the price of Bitcoin will be at the level of $ 5000, but in the future it will rise to $ 1 million. This assumption was made by Vice President of IBM for the blockchain and digital currencies Jesse Lund.

I see Bitcoin at a million dollars someday. If Bitcoin is at a million dollars, then satoshi is on value parity with the U.S. penny. I see maybe $5,000 at the end of the year, but I see a way higher upward trajectory.

Jesse Lund

Vice President for the blockchain and digital currencies, IBM

In late August, IBM launched the Blockchain World Wire platform based on the Stellar protocol for instant cross-border payments.

In February, IBM launched the Internet of Things and the blockchain to combat drought.