Cardano (ADA): It has become clear to every ardent crypto follower that the current uncertainty in the market has everything to do with effects of the cryptocurrency regulations. This is set to drag on as long as there are no clear regulating guidelines. However, individual countries are taking it upon themselves to salvage the situation.
Thailand and South Korea are working on a framework to regulate their local cryptocurrency markets. Thailand has already cleared seven digital coins to trade in the local market. Their local body is overseeing the operations f exchanges and ICO’s.
South Korea is adopting the local banking regulation model and is already working out ways to regulate indigenous exchanges. If this works out, the two countries will be in the forefront of becoming a safe haven for digital coins and assets.
The current deepening crypto- market crash which has escalated from June 22 has been attributed to these regulations biting hard in the Japanese market. Although it is a good move, the local authorities have ordered all exchanges to work towards improving their systems and guard against money laundering and other malpractices.
With cryptocurrencies, exchanges and ICO regulations becoming clear and steadily taking effect, supporters of the coins and investors ioknce by the SEC. the regulations will define coins or tokens that are not securities and will give institutional investors green light on where to invest.
The nagging question however is, when the regulators are going to make their final decision? Are their decisions being influenced by some quarters? When these issues are clarified, the market will be back on its feet and do better than never before. This will also instill investor confidence.
The crypto-market is known to be very sensitive to positive news and the sooner the decision is made, stability will start creeping back. The events surrounding the market have prompted Charles Hoskinson, the Cardano (ADA) co-founder to express optimism that institutional capital will spur the market growth once the regulations are clear.
Through his twitter handle @IOHK_Charles Hoskinson says:
“What’s often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That’s tens if trillions of dollars entering the space eventually, Future us bright.”
If this prediction comes to pass and Wallstreet pumps in more capital, a surefire breakout is set to ensue and all stakeholders stand to benefit. It is important to look at the whole scenario from a market that is in “beta’ stage perspective.
Hoskinson sentiments attracted a lot of comments and one of his fans added:
“The future… it is very bright Charles because guys like you have the resilience to tough it out & tell the story & worldwide too. The Crypto Shift # TCS is a movement that typically takes 15 years to be challenged before being adopted adding 15 to 2008 takes us to 2023 mainstream.”
-Thomas Power @thomaspower June 21, 2018
The cryptocurrency market comes with everything new and the market slump and breakouts are part of the game. Regulations will afford each player in the market the confidence and trust they deserve for the market to thrive going forward.
Thailand and South Korea have set stage and once other governments take the cue, institutional capital will definitely spur the cryptocurrency market growth reduce the uncertainty. What the entire authorities need t do is acknowledge blockchain and its role it is playing to complement and not to compete.