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eToro Comment: South Korea Commitment to Bitcoin Regulatory Framework
Matt Newton, Market Analyst at eToro comments:
“Future gains in the value of Bitcoin depend on the legitimisation and adoption of the digital currency as an acceptable real-world medium of exchange, using it to pay for bills, groceries and remittances, thus increasing volumes and driving the asset price.
“Exciting news for Bitcoin enthusiasts and investors arrived yesterday via the new government of South Korea, who reported they are constructing a regulatory framework to regulate and legalise Bitcoin, a significant move considering South Korea has been a global leader in Bitcoin purchases this year.
“Additionally, today, the first 334 stores (of a 260,000 store deal) in Japan have started to accept Bitcoin payments.
“The growing regulatory infrastructure around cryptocurrencies also helps protect investors from fraud and exchange failures, stabilising the market – if not the price. Price volatility in Bitcoin will continue, but as long as real-world adoption keeps gathering pace, the medium-term outlook is extremely positive.”
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Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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