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 –
- Banks will stop issuing virtual accounts and such existing accounts will get converted into real name accounts
- AML Guidelines to prevent any possibilities of money laundering activities
This should stabilize the market and bring back bulls and people into cryptos.