As we muddle our way through this mess that has been created this week... I came across this story that confuses things even more. It just goes to show what power the media has over decision making... FUD. It also could be a matter of the interpretation that was coming through regarding this.
Perhaps the market will see this as a minor bump once the REAL news is out. I'm actually not surprised at all about this.
This report is basically stating that China’s National Internet Finance Association has stated that Crypto exchanges don't have the proper authority to operate and that they are going to have to go through with a licensing process in order to operate.
So... all in all this could be a positive thing moving forward.
I for one hope this has been just a blip as we move forward and also comments like Jamie Dimon's recently will have no real effect on the market.
If you would like to read the full report.... I found it at themerkle.com