The South Korea taking their move on regulating Bitcoin.
The governments stance and actions thus far indicate an interest in encouraging blockchain technology and the growth of cryptocurrencies, but not at the expense of safety and security. Stated one trade ministry official:
"Any major reversal in policies is unlikely, but the government seems to believe a gradual shift in attitude toward crypto-based assets is needed. What regulators should do is figure out how to regulate them properly and prudently as Korea needs to put more emphasis on blockchain technology after obtaining knowhow and understanding of the possible flipside of cryptocurrency trading."Read the full report:
https://bitcoinist.com/south-korea-moving-towards-cryptocurrency-acceptance/Acceptance is a major factor in increasing value. As more and more countries/governments and major business players accept Bitcoin or cryptocurrencies as a whole, legitimacy and credibility will increase as these two are contributors to value. Though regulations are being placed for safety and security in order to protect a nation's citizens from fraudulent acts, this I think is just a small concern which will eventually result to a better picture of the whole scene. I believe that great things are in store for this system and all we need to do is make wise investments and patiently wait.