Highly likely that more exchanges will shut down in China. Possibly all of them.

source, CEO of BitStamp

BTC under $3k, ETH under $200, total market cap under $100B. Woah! Those are some major drawbacks.

So will China shutdown exchanges?

Well...maybe. It seems that there will be a meeting between major exchanges and the People's Bank of China (PBoC) some time today. Rumor has it that the end of September may be the deadline for closing exchanges to enforce new regulations.

Is this just FUD?

Seemed like it before, but not so much anymore. However, I've spoken to 2 people in the blockchain space recently who actually thought this may be a good thing. Both had projects copy-catted for massive ICO gains.

We're talking >$50M!

All from copying some code and marketing the hell out of other people's projects.

Why this won't happen in the US...at least not today.

For the first time in history, industry and technologists are bending over backwards to work with US regulators this early in a new technology's development. Organizations such as Blockchain Alliance and the Coin Center are working hard to make sure the US doesn't overreach with regulation.

And you know what?

It's working. Regulators do have concerns, but as federal prosecutor Kathryn Haun reports, law enforcement is able to catch criminals using Bitcoin which should quell fears.

For more on Blockchain Alliance, Coin Center, and to hear Kathryn's fantastic story about identifying DEA agents who were stealing Bitcoin while investigating the Silk Road check out the Unchained Podcast hosted by Forbes contributor Laura Shin.

Oh Canada!

This is actually my favorite. Check out this great conversation taking place between the Canadian Senate and Andreas Antonopoulos. This was definitely an eye opener on how open politicians can be when information is presented in the right way.

What do you think?

Will the drop continue? Is this just China FUD v9.0? Are HODLing, buying, or selling?

This is my first time ever writing a blog post anywhere. If you've found anything I've shared useful feel free to leave me some of that sweet, sweet STEEM. If not, let me know what you'd like to hear next time!