Markets should regain confidence post the release of South Korea guidelines on cryptocurrenies

For last few weeks, the cryptocurrency markets have been quite uncertain due to negative news coming out of South Korea. Today it is a beginning to end the uncertainties on the regulatory front with the South Korean government releasing the guidelines to run an exchange and trade in cryptocurrencies. The key points are –

  1. Banks will stop issuing virtual accounts and such existing accounts will get converted into real name accounts
  2. AML Guidelines to prevent any possibilities of money laundering activities

This should stabilize the market and bring back bulls and people into cryptos.