the price of a gift
In the end, it seems that Korea has come to the conclusion that there is no regulation on cryptocurrency at all.
This is because the officials in the administration, who have the power to directly regulate, and the legislative branch that will draft the regulatory bills, did not intend to reduce the value of their assets and fall outside the eyes of a giant named Kang Yu-jin.
On the other hand, the media, which should have objectively reported on this situation, did not take this issue seriously enough to be strange.
There were not many news articles from various angles on the future and problems of cryptocurrency, but the cryptocurrency, which Yoosung, the younger brother of Kang Yujin, gave to various people in Korea two years ago has soared and donated a huge amount of more than 100 million won each. Reports of the same effect were seldom seen.
“Reporter Yoon. What time is it this evening? Shall we have a drink after a long time?”
Reporter Kang from the Social Affairs Department of the Jaemin Ilbo spoke to reporter Yoon from the Ministry of Economy.
“no. I don’t drink these days. Don’t miss a chance to get drunk and sell.”
“It is, indeed. Coin, that’s the problem. Just like stocks, the time is not fixed.”
“So tell me. You have to take care of it all day.”
Cryptocurrency investment craze was also taking place among Korean journalists these days.
This is because the small gift they received two years ago has now become a huge asset.
Yooseong’s gift is not just given to Korean politicians and business people.
Reporters from Korea’s top 10 daily newspapers, 4 major economic magazines, and broadcasting stations also received gifts via e-mail at the same time.
At the time, it was a light gift worth only $200, but now, two years later, each is worth a lot of money to buy an apartment in Gyeonggi-do.
Unlike politicians and high-ranking bureaucrats, it is true that journalists’ economic status is much poorer, so the gift given to them has to be felt much more now.
“Are you talking about coin again?”
A passing economic minister intervened with a word.
“ah! yes what I have a plan article that I am thinking about.”
“What is a planning article? Everyone was talking about how high they were today, right?”
“no.”
“Uh-huh! i’m gonna die What if everyone else is preoccupied with something else? And if the coin price rises ten times like this, I will even leave the company as a group.”
“haha. I hope so.”
Even at reporter Yoon’s words, the economic minister shook his head.
“no. Not long ago, a reporter from the Minkuk Ilbo resigned because he made 3 billion won in coins.”
“ah! I heard that story too. When I checked the Minkook Ilbo, it was true. I have been buying little by little since a few years ago, but this year it has gone up tremendously and I have made a fortune.”
“Is it? How about reporter Yoon? You said you’ve been investing since last year, right? I have a foresight.”
“Didn’t you get an email last year? When I checked the sender, it was Kang Yu-jin’s younger brother. So, doesn’t it just come in handy? There is something! So I bought some too. I put in two million won, who would have thought it would turn out like this?”
At the words of reporter Yoon, who could not hide the laughter that was leaking out, the economic minister burst into laughter.
“Two hundred? Then it must have gone up a lot?”
“I just bought bitcoin. Not even 100 times higher. I should have bought Ripple or Ethereum that I received in the mail at that time.”
“I’m sorry. But where is it?”
“haha. Well, that’s why I’m thinking these days.”
“Are you going to quit your job?”
“no. Now, I’m going to tidy up and buy an apartment.”
As he said, Reporter Yoon was considering liquidation gradually, but the head of the economy seemed to have a different opinion.
“no. why? Will it go up ten times more?”
“That’s easy to say, ten times. And over the past year, it has been so hard to keep my heart pounding because of that. For a timid person like me, investing is definitely not right. Wouldn’t it be great to have nothing to worry about for the rest of your life if you clean up now and buy a house? Then I can focus on my work.”
“That’s right. That’s not bad either. We are journalists, not investors.”
When the economic minister quickly changes his attitude as if it makes sense, reporter Kang intervenes.
“no. But if it really rises 10 times, will you hit the ground and regret it?”
“That’s also how it is. Now is the time for my family to hold.”
“under… … Oh yeah. I am I mean, I have a lot of problems.”
The head of the economy was paid much higher than the average reporter. Yes, it was only about 350 dollars, but now it is close to 400 million won.
Since the value of the asset was increasing as the coin price rose every day, it was also a routine to check the price until late at night.
“But it can be a little worrisome. Isn’t that the only way the media can’t do its job?”
“It is not. It’s only when I’m confused like this that I have to give a proper critique… … .”
Journalists, too, were confused between protecting the value of their assets and their duty in the public interest.
However, compared to politicians and bureaucrats, there are still some people who want to maintain an objective attitude in the media.
There were still people who tried to post articles of criticism without hesitation, even though they were scorned by people as giregi.
However, it is true that it is not easy to be related to one’s own assets like this.
“Anyway, let’s try. Can’t we just turn away to eat well and live?”
“So, I am preparing a planning article. After all, it is impossible for a coin to maintain this price forever, right? We have to be prepared for the collapse that will come at any time.”
“That’s right… … .”
The economic minister, who had been discussing the reporter’s mission until recently, answered without confidence when the story of the article came out.
“I am preparing for a conversation with a professor of economics at Seoul National University. He said that once the coin market started crashing, it would be out of control. Maybe more than a tulip bubble. And it could be a huge shock to the momentum of the Korean economy.”
“okay? But isn’t it just the professor’s point of view?”
“of course. You need to be as objective as possible. Among the professors at Seoul National University, I also made an appointment with a blockchain expert.”
“Five! okay? Then I’m glad Please write it properly and upload it.”
The face of the economic manager brightens when he says that he is a blockchain expert. It is because of the idea that there is no reason to say negative things about cryptocurrency if you are related to blockchain.
“The government does not seem to be regulating for the time being.”
Reporter Kang from the Ministry of Social Affairs, who was listening to the conversation between the two, said:
“I will. They all have quite a few.”
The head of the economy was also aware of how extensively Yoo Seong’s gifts had been sown.
In fact, this gift, which was sown not only in politics and relationships, but also in the media, was enough to become a topic of discussion.
However, it is not easy to publish it as an article because even the reporters who should reveal it are themselves the target.
The most reluctant object of coverage for Korean media companies is none other than the media itself.
Although it is a job to uncover even the smallest part of corruption and problems in other fields, the actions of journalists are seldom reported in detail, even if there is a very big problem.
There are quite a few incidents involving reporters, but they are thoroughly handled alone.
Even murder cases involving journalists were rarely published.
This incident is not just about a few reporters, it’s about most major newspapers and broadcasters.
Even the reporter who was going to write the article received the gift, and now it is bigger than the wealth he had accumulated throughout his life. Naturally, everyone was reluctant to report that fact.
There is a reporter who puts a bell around a tiger’s neck, but no reporter puts a leash around his neck.
* * *
“I heard that the Chinese government is considering cryptocurrency-related regulations?”
“I think it is because there has been a lot of interest from the people lately. The inflow of cryptocurrencies from idle capital is increasing as the Chinese stock market has not performed very well in the past few years.”
“As it is a global trend, it seems that China cannot avoid it.”
“Cryptocurrency is based on decentralization, so it is not easy for government authorities to control it. It is also said that if left alone, the cryptocurrency could become much larger than the RMB. The Chinese government, which is trying to upgrade the yuan to the second reserve currency after the dollar, cannot be left alone.”
“Then you mean what kind of response the Chinese government will take?”
Eugene responded to the new report. The trends of each country’s governments have always been in-depth information collection.
“Perhaps it is. Before that, I think we will have to move all the coins we are investing in to foreign exchanges.”
“The transfer of coins is also a problem, but I think we need to consider the impact on the cryptocurrency market as well.”
“That’s right. However, the overall impact is expected to be limited. In fact, not only the Chinese people, but also many high-ranking officials have converted their assets into coins and hidden them abroad, so even regulation would be limited.”
“But considering that China is the country that actually invests the most in cryptocurrencies in the world, it seems to have quite a ripple effect.”
“I don’t. However, it is the judgment of the superior that we cannot let go and watch as it is.”
While the Korean government is hesitant about regulating cryptocurrencies, the Chinese government has already started preparing guidelines for regulation.
Although Eugene knew that there were not many assets held by cryptocurrencies at the top level, the government worried that the influence of cryptocurrencies would adversely affect the government seems to be planning to drive regulation.
This is a future that Eugene is well aware of.
In my past life, the Korean and Chinese governments have had the biggest impact on calming the cryptocurrency boom at the end of 2017.
In early December, a shock came when the Korean government announced various regulatory measures for cryptocurrency, followed by the Chinese government’s announcement of a cryptocurrency ban policy, which inflicted a fatal blow.
At first, the Korean government’s regulations gave a temporary shock to the cryptocurrency market, but soon the market price recovered, but the Chinese government’s announcement was decisive.
This is because China has a large share and influence in the cryptocurrency market.
In this life, there was no regulation by the Korean government, but the Chinese government seems to be stepping out of regulation.
It is also moving several months faster than the original. That meant that there was a lot of concern about cryptocurrencies.
However, he did not seem to have any intention of saying a complete ban on cryptocurrencies.
Along with various regulatory policies, including a complete ban on ICOs of new cryptocurrencies, we decided to legalize the cryptocurrency itself.
It is probably because they considered the value of the cryptocurrency they hold.
However, as real-nameization was emphasized, high-ranking officials said they would transfer the cryptocurrencies held by them to another exchange, and for him they handed over one of the exchanges in the tax haven owned by Yoosung to Jiang Siwei.
Now it will probably be one of the exchanges where the most cryptocurrencies are traded.
Of course, it’s not free. The alliance, led by Yooseong, still maintains a certain portion of the stake in the exchange, and Eugene got a hint about when to rob the remaining coins.
Now, if we just check the reaction of Russia, it will be clear.
“The Central Bank of Russia will issue a regulatory policy. It will be around the beginning of next year.”
Alexei made similar demands at the same time.
In Russia, it seems that they are trying to start internal regulation while protecting the ruler’s cryptocurrency.
“I can handle most of the cryptocurrencies I have before February next year.”
The brothers now decided to dispose of all the remaining currency as well.
Once regulations are implemented in Russia and China, there is no doubt that the upward drive for cryptocurrency prices will stop.
“Is it a big shock?”
“Sure. And it doesn’t matter if the shock isn’t too big.”
The biggest income you can get from investing in cryptocurrencies is not the increase in assets.
You can earn as much money as you want in the future, but the influence Eugene gained through this incident cannot be obtained with several times that amount of money.
The gifts the brothers have sown in many countries, not just Korea, have blossomed over the past two years.
At least tens of thousands of influential people from around the world inflated their families with the gifts of the Eugene brothers.
Whether they like it or not, it will remain a debt of the heart.
And they will be a little worried about the price of the gift in any way.