Bitcoin is turned to be an absolute beast when it comes gaining bullish momentum. In January this year, Bitcoin was just only $700 and now it is heading towards $15000 making new ATH every single day. Crypto market has always been highly volatile and unexpected but Bitcoin's bullishness has broken every single record.
People are investing hugely into the crypto verse. Some still say it is a Bubble which could burst anytime but by the looks of it, people don't care. After the recent announcement of CME & CBOE regarding the Bitcoin Futures trading start by this month's end, people are relying on Bitcoin's mainstream adoption.
Now, on one hand everywhere people are accepting and acknowledging Bitcoin, on the other hand South Korean regulator has banned Bitcoin Futures trading unexpectedly.
South Korean government might have a problem with the understanding of Bitcoin and that's why they're not allowing any Bitcoin Futures Trading within their economic borders as well as they have also banned Initial Coin Offerings (ICO's). Recently, South Korea has announced its plans to begin regulating cryptocurrency exchanges.
“Word just spreads really fast in Korea. Once people are invested, they want everyone else to join the party. There’s been this huge, almost a community movement around this.”
After the CME and CBOE, the Korean also trying to do the same with their Korean Exchanges until recently they flushed the idea. As per this source : On December 5, the country’s Financial Services Commission ordered members of the Korea Financial Investment Association to get rid of their plans to start Bitcoin's futures. Two Korean securities firms had already planned seminars for Bitcoin futures investors.
Let's see they Korean Government have in its mind regarding Cryptocurrencies.
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