Subsequent decreases in BTC and altcoin are probably due to rumors about a trading ban in South Korea’s. However, market panic is not advisable, as the promises of cryptocurrency market regulation mainly concern “Korean youth.”
South Korea and the Cryptocurrency market
South Koreans trade the highest volume of cryptocurrency in the world. Bithumb, the largest cryptocurrency exchange, is based there. Therefore, all information on the market situation in South Korea has a real impact on what will happen around the world.
One of the major events in South Korea was the introduction of an ICO ban in September. Now we are witnessing new regulations aimed at lowering the level of anonymity in the cryptocurrency exchange market. From now on, it will not be possible to trade in South Korea from an unverified account. In addition, the adjustments primarily target young investors. People under 19 years old will be barred from trading on the stock exchange. Some investors have started to panic. Many feared further restrictions or a total ban on trade, causing a dip in price.
more:
https://dowbit.com/south-korea-restricts-cryptocurrency-trades/