Cryptocurrencies are a unique financial asset class.
For one, they do not simply live within national borders. They trade frictionlessly around the globe, and, whether you live in America or Armenia, Canada or Cameroon, the process of buying, selling and trading cryptocurrencies is essentially identical.
And yet the exchanges most investors use for cryptocurrency trading are bound by the regulations of the country in which they're domiciled. Moreover, if trade volume in a single country is high enough, it's likely that the market structure of that country's exchanges, and, by extension, that country's regulatory regime, could have a price impact on cryptocurrencies.
Korea rising
Looking back on last week's market action, there's perhaps no better country that illustrates this truth than South Korea, where lawmakers are close to following Japan in becoming the latest to formally carve out rules for bitcoin in national law.
Perhaps in response, Korea's markets are waking up – big time.
https://www.coindesk.com/annyeong-bitcoin-south-korea-canada-changing-crypto-market/