More FUD in other words. We can all see what happens once there is no FUD. Bitcoin and other currencies starts climbing. And once there is SOME good news it skyrockets.
Russia
Alexey Moiseev, the deputy finance minister of Russia said earlier this week that he expect regulation on crypto currencies and a ban on payments made with cryptos.
Note: He expect. So it is not clear.
Earlier he has said that Bitcoin should be classified as an asset.
Now, keep in mind. He is talking about payments. There is not talk about banning trading and owning Bitcoin.
South Korea
Regulators announced today that they will ban ICO's. They will ban all ICO´s regardless of it being a scam or useful technology. It is however unclear at this point if they are talking about South Korean ICO's or all ICO's. Keep in mind - they are NOT banning Crypto Currencies. Personally, I love the free unregulated market. Even a coin called useless Ethereum token raise something like $90,000 USD in a short time. The token itself says it's useless, still people invest in it. From a government, regulator perspective however, I can see why they are wanting to regulate this. I don't agree to it, but I don't think it's going to have an impact on the crypto currency market. Real coins, real technologies will not suffer from this.
Bottom line
Everyone who invest or has invested in Crypto Currencies should understand this - governments will do everything they can do stop their own fraud fiat currencies from being abolished and irrelevant.
This should not come as news to people. There will also be crypto currencies that are 100% anonymous (like Monero). It will still be easy to convert your Bitcoin into Monero and do payments that way.
What we have seen is that the Crypto-family is resistant and idealogical. We will just keep moving forwards, while the backwards governments try to stop us. That's why it is so important that we hodl and stay in it.
What I find strange and not logical is the banning. Either it is lack of understanding from the governments on what ICO is and what BlockChain technology is, which I doubt, or they need to buy time to figure things out before it takes off completely.
What we are seeing with BlockChain technology is a whole new world. A whole new system. Bitcoin is gold. Liteoin is silver. Ethereum is this new platform, in which companies are built on top of. ICO's a are simply stocks - referred to as coins.
They must understand on a macro level that this changes everything. I personally believe they are buying time with this nonsense. Anyone who are capable of hodling through this FUD, which will probably last for years has a BIG chance, bigger than anything else you will ever experience - to become unbelievably rich.
Today is one of those days I am going away with my family to do something fun. Just logging of the phone and enjoying the analog world to the fullest. But first - I am going to buy a little bit more Crypto Currencies!