My friends, we are witnessing another deception attempt that the mainstream medias offer on a daily basis.
CNBC and other medias are just throwing sh*t at the crypto space just for their own interest putting out deviating articles with overclickbaiting headlines.
Meainstream medias reported that the South Korean government is planning on banning all crypto exchanges to avoid cryptocurrency trading.
Well, this is definitely NOT the case:
South Korean Minestry is willing to shut down only certain kind of exchanges, those that are not compelling with the regulatory framework that will be published on the 20th of January.
As stated on an article by CCN earlier this morning, the regulatory framework will be implemented for the following reasons:
1- Prevent unaccredited investors from dealing with losses through highly volatile cryptocurrencies.
2- Prevent strictly regulated cryptocurrency exchanges from operating as speculative platforms for unaccredited investors.
3- Request banks and exchanges to ensure underaged investors and foreigners cannot open trading accounts on cryptocurrency exchanges.
4- Temporarily suspend institutional investors and retail investors from investing in cryptocurrencies.
Hope this clears up the FUD, reason why prices have been going down tonight.
Please consider resteeming and upvoting this post to raise awareness.
And please... DON'T FALL FOR THE FUD.
Happy trading. Be safe.