Japan is considering how to thoroughly integrate bitcoin into the country’s economic fabric. And South Korea is doing something similar, seeking to formally accommodate bitcoin.
Perhaps as a result, cryptocurrencies have moved up a good deal. Three of the world’s top exchanges now residing in Korea, have moved up sharply.
Contrast this to Canada. In Canada, regulators have been leading the charge. The US has a similar situation where the SEC is in charge.
The bottom line here is that legislative authority, which tends to have more concrete boundaries, is preferable to regulatory dictates, which may know no boundaries at all.
Here at Blockcity, we have argued that less regulation is better than more. These latest results playing between East and West would tend to reenforce this hypothesis.