As we muddle our way through this mess that has been created this week... I came across this story that confuses things even more. It just goes to show what power the media has over decision making... FUD. It also could be a matter of the interpretation that was coming through regarding this.
Perhaps the market will see this as a minor bump once the REAL news is out. I'm actually not surprised at all about this.
This report is basically stating that China’s National Internet Finance Association has stated that Crypto exchanges don't have the proper authority to operate and that they are going to have to go through with a licensing process in order to operate.
So... all in all this could be a positive thing moving forward.
I for one hope this has been just a blip as we move forward and also comments like Jamie Dimon's recently will have no real effect on the market.
If you would like to read the full report.... I found it at themerkle.com
Misuse of media...For this many people lost their digital properties.....Very sad...
It's been played out so many times and in so many ways. I still don't know who to believe... conflicting reports on whether they will shut them down or make them get licenses. I hope it's the latter.
Actually what China has done is correct. A lot of countrys will follow. If your a regulator its your job to protect people. A lot of ICO
s are SCAMs. They are powerless to stop them but can make it very difficult for them to thrive!You are right...
I totally agree. I hope they are able to sort it out and do it the right way so people are protected.
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