Financial media report of a South Korea 'crackdown' seems to have been, at least partially, a catalyst for the BTC sell drop.
Reports say losses could be as high as $2.6bn, this due to a regulatory overhaul (comes intpo effeect September 24).
BUT ... This coming 'overhaul' is a well known piece of news. Its nothing new:
This, fo example is a Reuters report back in the middle of July:
- By Sept. 24, South Korea's numerous cryptocurrency exchanges will need to disclose risk management and partner with banks to ensure trading accounts are held by real people.
- The rules, analysts say, could result in exchanges delisting hundreds of such "altcoins" as they vie for tie-ups with banks.
BTC, down and up again, higher:
