Countries such as South Korea and India plan to tighten their regulation on cryptocurrencies, and it is expected that the market will be dramatically volatile, according to recent news.
The Indian government may propose a bill relating to the management of digital currencies during the Mausam conference that will commence on July 19th, the intention of which is to ban the circulation and use of all digital assets in India, including Bitcoin, according to the market news.
In addition, a cryptocurrency-related bill will be proposed on July 14th, according to the South Korean financial authority. All these are associated with the management of manipulation in the cryptocurrency market, the ban on trading with undisclosed information, and the liability for damages caused by accidents such as hacker attacks.
The introduction of the bill indicates that the South Korean government will directly manage the cryptocurrency market based on law. All brokers breaching regulations and rules will be banned, and all exchanges will face rectification.
Whats more, New Zealand plans to investigate the cryptocurrency market nationwide, but more information is needed in this regard.
In short, the rollout of new rules will cause the price fluctuation of digital currencies. Please be alert to the market.
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