THE FORUM IS HERE!
For all previous attendees to the @traderacademyofficial seminar, our new forum is up and running and free to join.
With many topics open for discussion, it will be a place for further learning and development.
All new “Moves Of The Week” (MOTW) will be shared here alongside many other new features.
All previous attendees will be invited via email to register online. Let’s starting talking about the markets!
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#SouthKorea#Crypto Industry More Optimistic Than Ever Despite Bear #Market
Throughout the past two months, investors in the local crypto market of South #Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto.
Since early February, the crypto market has endured the third-worst correction in its history, experiencing a 78 percent decline in price. Despite the bear market, the cryptocurrency industry of South Korea has seen significant progress pertaining to regulation and adoption.
Crypto Will Soon be a Legitimate Industry in South Korea
Due to the extreme volatility of the cryptocurrency market, the vast majority of investors in the global market have recently been focused on the short-term price trend and movements of major cryptocurrencies.
However, while the price of cryptocurrencies is an important metric that demonstrates the level of adoption of digital assets, it is equally crucial to acknowledge positive developments in the cryptocurrency sector.
Since June, the #cryptocurrency market of South Korea has seen actual progress in digital asset-related regulation, primarily due to the increasing efforts of the government to implement practical regulatory #frameworks for cryptocurrency and blockchain companies.
Local financial authorities and the Financial Services Commission (FSC), the main financial watchdog of South Korea, have focused on legitimizing the industry by recognizing cryptocurrencies as regulated financial institutions, placing them under the authority of the FSC.
Once the cryptocurrency and blockchain bill is passed by the Congress, every cryptocurrency exchange will be required by law to comply with the same security, internal management, and anti-money laundering (AML) policies local banks and financial institutions are required to remain in compliance with.
Authorities at the FSC emphasized that the bill, if passed, will effectively put an end to the “Kimchi Premium,” which has declined substantially since December of last year, and reduce cases of security breaches and hacking attacks.
The Lira has plunged today against the #Dollar and #Turkey has responded with retaliatory tariffs on US cars and other goods. The US/Turkey relationship continues to erode along with Turkey’s relationship with West in general. We will see how things play up for #Erdogan in the long run. #News#TradeWar
Whenever you doubt how far you’ve come just look down⛰ You won’t even see your starting point because of the heights you’ve climbed. The minute you feel like giving in I promise your reward is around the corner🌄🏆🏦