The crypto market around the world is something that a lot of people are looking at right now and with a lot of bated breath lot of people are just waiting for something to happen because the date of January 20 is something that is expected to be a very big date as a lot of things are going to happen as expected by a lot people because that is the date when Donald Trump is going to get into his office and hold the presidents of and a lot of people of believing that it is going to start of a bull Run for sure in the Crypto market and that is what I got a people talking about as well.
Based on that there are a lot of activities that you can see in the market itself which is happening as well and that is something that a lot of people believe to be something that's going to happen and it is something that is a necessity that is going to happen but at the same time, we are also saying a lot of things which have been unexpected in the past you weeks right from the start of January. Many people were talking about the potential start of a bull run right from the start of January 12th it is going to only increase over time and by the time of January 20th it is going to Explode, but things have not been that smooth as we have seen a lot of tips in the recent days as well which has been a combination of a lot of things as well because of which it has been volatile and a lot of people and now questioning themselves that is January 20 going to happen to be a day that people are going to see the bull run start.
In the middle of all of this, there have been a lot of other things as well that have happened along the way including the things which is going on in the United States of America and the situation in Los Angeles about the wildfires that have extremely gone very big and that is causing a lot of problems as well as the same time and in the other part of the world the scars of HMPV virus is also making waves whares again giving the flashbacks of tlovedvid panda make that happened a couple of years ago and the situation that used to exist in those particular times when the market was crashing.
Right now people are very much in mixed kind of emotions that what is going to happen in the coming days because it is already January 17th and there are just a few days remaining since Donald Trump gets office that day is something people expect to be or there are going to be other things which we happen as they have been already a lot of unexpected things which are happened.
Amidst all of this, there is very big news that is coming up from South Korea itself which was a country that had a lot of Crypto related activity within itself, and one of the most prominent exchanges in the country which is UpBit is now hit with a suspension that is coming up because they have not followed a particular anti-money laundering regulation. The suspension has been put in place by the financial intelligence unit of the country and they have now clearly mentioned that the company has to suspend all of its operations in the country.
In the past, there were a lot of talks about the country now trying to fill up a new Crypto regulatory Framework for the nation which is going to completely define the way the industries are going to operate within the country and maybe this move is now going to be something which is defining that particular aspect as well or going to play a very major role in their Crypto regulatory Framework that is going to get imposed but at this moment the regulatory Framework is not that much prominent in the nation which is why the financial units are looking at everything has been taken based on the anti-money laundering laws that exist in the country.
There is a very big report about this exchange that there are a lot of complications in the KYC requirements for the particular exchange and that is going to be making sure that the services of the traders which are going to be through this particular exchange are going against the law of the country which is why the concerns have been raised and offering it service to all of these people with these particular KYC regulations which are not in fact at all making connection with the things that are put in place by the government as well as the license of the business has also expired last year which is very concerning at the same time that still operating with an old license.
All of these things play a very major role in the FIU taking this particular action and now putting the indirect change to a halt in the country which had an enormous volume of over 8 billion dollars worth of trading in that particular exchange in a 24-hour bracket which was one of the biggest exchanges in the country is well.
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Cheers!
Sayu
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