The following post by TrodaxCat is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ BitcoinMarkets/comments/9vwhz0
The original post's content was as follows:
Regulations are a double-edged sword. If utilized correctly, they can infuse confidence among institutional investors but if implemented incorrectly, they can drive away investors. Using traditional methods to regulate a new asset class can lead to disaster.
Japan’s Financial Services Agency (FSA) has shown the way, by allowing the Japan Virtual Currency Exchange Association to formulate and enforce the necessary rules to protect consumer assets and prevent money laundering. If this experiment in self-regulation is successful, it might be adopted by the other nations as well, instilling confidence among investors.
Will the central banks issue their own cryptocurrencies? According to a recent study, many financial institutions believe that there should be central bank-issued digital currencies (CBDCs). However, Bank of Japan’s (BOJ) deputy governor Masayoshi Amamiya recently refuted the claim that CBDC’s will improve current monetary systems.
Crypto markets have recently stopped reacting to any fundamental news event but this tight range bound trading is unlikely to last forever. Soon, markets will make a decisive move with force. Traders should be ready to jump on the bandwagon if the breakout happens to the upside.
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