[Music] what’s going on guys welcome to our Channel and I’m Jade from blogging pro and I’m Paul from block readings so I heard this news about South Korean government make profits out of Kirk to currency regulation so we’ll get into that later but before let’s get into South Korean regulation first yeah so the government made an official announcement a few days ago and it basically contains three main points the first point is regarding the requirements for Korean traders to register using their real names for crypto currency trading accounts this will proceed as planned so that the government can pursue and crack down on anonymous trading accounts and regulate market manipulation money laundering etc the second point is regarding the crypto currency trading been proposed by Justice Minister sandy Park this was only a suggestion and an official decision was not made it will be made in the near future after sufficient consultation and review the third and last point is regarding the excessive speculation and fraudulent activities this will be met with severe consequences however the government will support and even finance blockchain technology development now so basically there’s no brand-new issues or regulations I should say because they’ve been talking about using real names and punishing market illegal trading and stuff for like over months now so and in my opinion they should have done it a long time ago it’s kind of too late and because of this lateness it causes a lot of problems such as Korean high premium and stuff yes so definitely as you can see the Korean market does have a significant premium compared to other countries the premium before was 54 percent but due to the recent briefings the premium was dropped down to 23 recently also Queen market cap removed the cream 1 from their price calculations this was done to provide a more realistic and accurate price on their website so briefly what’s up next I’m studying euros for the next video so if you guys are interested in please subscribe and like my video leave some comments below and I already uploaded a video of a cardinal aka ADA so if you’re interested in please check that out too on my channel and thank you so I read this post saying the Korean South Korean government’s made profit out of cryptocurrency regulations how did that happen so what happened was the writer said on January 11th Korean government the minister’s hungee Park he announced the plans of a bill in intended to ban cryptocurrency market trading in the country as a result as well as cryptocurrency prices cryptocurrency related dogs also went down 30 percent which is the lowest percentage it can go due to the Korean stock market loss so not many people know but there is a trading exchange called up beat currently is the number one market in Korea trading making over three million dollars in profit a day previously bit sum was number one however it did take over the first spot I has approximately a four percent Bitcoin trading volume compared to other exchanges yeah so there’s a stock called OD kizu tsuita which is it almost seven to eight percent of the stock shares of a bit company the number one exchange in Korea their stock was obviously going up up up then suddenly the exchange banning news came out so which made their stock price went down to 30 percent so on that day on January 11th government bought over 5000 dogs of that company then they sold it four days later on 15th so but we can’t tell the exact price but if you see the chart here on January 11th the price went down to at least 30% you can see the huge gap between the with the candle Elevens and the last candle so they sold it on 15 and it went up at least like 30 percent on that day for sure just if we do the really simple calculation the profit is only about probably twenty thousand dollars it could be small but someone definitely made money out of this situation we don’t know what exactly happened here or it could be a well made scenario or a coincidence we don’t know but we’re just checking and sharing the information that we got from the data and I just want to share one more thing it’s from my one of my favorite youtubers the channel name is the modern investor and what he said was I don’t think these countries care so much about what is going on as much as they care about getting their own piece of the pie and I kind of agree on that statement so Korea is the third largest country in terms of currency trading volume so the Korean market definitely does have a big influence on other markets and to be honest I’m not quite sure the Korean government fully understands what their briefings are causing to the market and the reactions that people are having yeah so that’s for this video thank you all for watching and like I said the very soon I will upload a video about iOS so please subscribe and like the video leave some comments below if you’re interested in or we will hopefully see you again all student thank you