South Korea’s top financial watchdog has issued informal guidance urging local asset managers to scale back their investments in crypto-related stocks, according to a Korean Herald report. The Financial Supervisory Service (FSS) specifically told several firms to reduce exposure to U.S.-listed companies like Coinbase (COIN) and Strategy (MSTR), Michael Saylor’s Bitcoin-heavy investment firm. The warning, delivered verbally, reflects the FSS’s continued adherence to its 2017 policy that bars regulated financial institutions from holding or acquiring equity positions tied to digital assets. This includes both direct ETF exposure and indirect crypto equity holdings. https://cryptodnes.bg/en/south-kore...e-to-crypto-stock-like-coinbasemicrostrategy/ Michael Saylor is a dangerous man. His "crypto philosophy" is full of crap. He looks for you - the BAG HOLDER. Mark my words!
No surprise from these jokers. The same country that wants currency controls & no short selling wants to ban you from buying cryptos & related investments. Oh they also don't want foreigners to buy any KOSPI stoks.
Honestly there is going to be a collapse in these stocks and the rest of the markets. Everything is going absolutely nuts, every asset class is surging, this is not normal... MicroStrategy and the rest of these crypto plays will lose large amounts. I mean at this point if you haven't taken at least some profit off the table you are a fool. And that also goes for the other asset classes as well.
Genius call. Better to sell now then try and get out when there is going to be a mass exodus out of every equity and crypto at one time....
Of course, if you have bought COIN, MSTR a few months ago, it make sense to take some profit as they are around the record high price.