I read the other day on a crypto news platform, that South Korea’s National Assembly is set to hold the first official crypto debate in the country. And that other members of the country's Congress would be involved in the debate. It's definitely going to be an event I'm going to watch live, if the meeting is translated to English and available online.
Let's not forget that some of the most popular crypto exchange websites are in South Korea. Upbit, Gopax and Bithumb are all in South Korea.
A meeting between government and crypto enthusiasts would definitely result in both positive and negative results. I just hope the positives outweighs the negative. The meeting would involve the regulation of cryptocurrency in the country, as you well know Government wants its taxes.
On the positive side, it would help get some traction to the cryptosphere. People who haven't heard about crypto in South Korea would, since government is dedicating some time to talk about it. The bear market has been on for some months now, South Korea could change the game. They've been involved in market manipulations several times.
Let's just hope the result of the meeting benefits us all.
Personally, I think this is great. I think we have spent too much time in a holding pattern waiting to see what the governments and trade authorities are going to do about cryptos.
I am glad to see that some action is finally being taken. The fact that they are having a debate shows that will be brought out into the open. Even if the outcome is not what we had hoped, at least there is some movement.
The time that we are spending waiting to see how everything is going to shake out just fuels all of the FUD that is our there.
This will hopefully give us some clear answers and insight on the direction that South Korea is going to take. From there we can probably get a good idea of how other governments and agencies are going to move forward with cryptos.
As I said, we have wasted too much time just sitting on our hands and waiting around. The waiting is something that has helped weed out some of the weaker holders, but it has just been going on too long.
I wish more countries would open up to debates like this so that we can start moving forward towards a definite end goal. There needs to be some normality in the system and this past year has brought anything but that.
I believe that one of the major problems that is faced in the cryptocurrency market is the market manipulation by some certain groups of people and that has made those people to have the great power to determine whatever will happen to the cryptocurrency market,
I believe that the south Korean regulators trying to debate crypto regulations is a good step in the right direction but the outcome of the debate will also determine if it will have a positive or negative effect on the cryptocurrency market..
I strongly believe that a strong regulations of cryptocurrency is very important because it can help to curb any form of market manipulation happening or that could happen in the cryptocurrency market...cryptocurrency market that is free from market manipulation will be a great market for its users...