Another BRICS country trying to contain Bitcoin

Another BRICS country toughens stance on Bitcoin, bringing down prices in whole crypto sector. More regulation in the sector is not necessarily a bad thing. All things mainstream must go through a regulation process to be accepted. Digital currencies and blockchain technology should have started being researched and regulated a long time ago. By regulation we don't mean governments controlling supply or price or centralization of decentralized systems. We mean basic recognition that this is a real technology that can be used for good and for bad. Exchanges should have to use basic KYC authentication that can help prevent money laundering. 3rd party exchanges and wallets should have some sort of obligation to insure or at least protect investor's funds (MtGox, Cryptsy, BTC-E etc.)

The market is flushing late investors that were getting in on speculation to get rich quick, this is a healthy cleanse for the entire sector. Pullbacks are common in this sector, consider it an opportunity to discover great projects within the blockchain and get involved.

Source: https://www.rt.com/business/416078-brazil-bitcoin-crackdown-brics/

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*This is not investment advice. Investing involves risk.