You'll need to click "translate" on this one but it's worth a read. Click Here for Article
More Bad News for Crypto?
You'll likely see a lot of selling over the next few days based on this. But those of us with cooler heads will be hodling (or even buying) during this potential dip).
What's really happening here is a great thing for crypto IMHO.
South Korea has seen a MASSIVE explosion of crypto trading over the past three months. So much so that their volume alone has caused massive swings on all kinds of coins and tokens.
This has caused a lot of attention from their "leaders" (note they lead nothing and only react, never lead), who have said they will be looking closely at the exchanges, the banks where exchange accounts are held and will ban South Korean ICO's.
They will also ban Margin Lending on crypto.
Both of these measures seek to protect investors from unscrupulous crypto scams and useless projects being "pumped and dumped".
While I'm a big believer in buyer beware and don't feel big brother holding people's hand actually works, this is clearly a sign the authorities see what I see.
Crypto is here to stay. More and more people will become involved. We are currently in the "innovator" phase of adoption and will soon move to the "early adopter" phase.
The innovators generally know they're innovators and they accept a level of personal risk when investing in new, highly speculative markets.
Many early adopters will also understand the risk they are taking but as we move up the adoption curve, people will expect to be "looked after" by the authorities and their regulations.
Governments like China and Korea clearly see this and they want to be seen by their people to be "taking the bull by the horns".
Well this bull (bull market that is), is about to take them all for one hell of a ride!
Regulation will have to move quickly to keep up with this innovative space. Countries who seem to have a hold on it will see early adoption rise faster than other countries as they make space for institutional investors to weigh in.
I firmly believe we are watching the beginning of the financial re-set we all know has to happen but don't know what it will look like. Countries that manage to implement rules and regs for their people, opening the doors to the hedge funds and investment firms to start pouring money in, will be world leaders in crypto and one of them may be the new Wall Street...
Soul, Beijing, Shanghai, Tokyo, Saint Petersburg, Moskow?
These are the places where financial regulators have begun the process of trying to open up crypto while making it safe for their population.
These are the current front runners to be the new Wall Street IMHO.
If you like this kind of content, follow me on Steem It and join our Facebook Group Bit School
