An ICON Foundation sponsored event ‘The Wall Blockchain Conference’ was held at the DMCF (Digital Media City Festival) September 6, 2018. SBA hall, Seoul, Korea.
The Wall Blockchain Conference is one of the largest festivals hosted by MBC, the leading media group in Korea. This year it was designed to explore the future of technology, media, and space and combines a series of global conferences, exhibitions, concerts for more than 490,000 visitors according to official record.
Bitcoin ETF Approval Requires Market Stabilization
As reported by BlockMedia, this claim came during the discussion on U.S. SEC’s Bitcoin ETF decision at “The Wall Conference”
Most attendees expect the SEC to approve the Bitcoin ETF. However, that time will come after an overall stabilization of the market.
Huobi Value management manager Im Gwanryeong mentioned: “The ETF approval will be a positive factor in terms of improving overall market sentiment”. Regarding the approval date, he said: “It will take some time as a stable environment needs to be created first.”
Shin&Kim inc.’s lawyer Jo Jeonghui had a similar opinion. Jo said “The ETF will be approved when SEC feels the cryptocurrency market is under control”, mentioning “ETF is about opening the territory for investment. The market gets bigger as investment organizations come to play, but there aren’t enough measures against disruptions in the market”. Also, he added “It won’t happen anytime soon. But in about 2 years time, there will progress”.
In contrast, there were claims the ETF approval is not far. Korean fintech DAYLI financial group’s executive manager Kim Chiwon mentioned:
I don’t think SEC is against cryptocurrency itself. The focus seems to be on frauds or abuse of the system”. He also continued, “solving the frauds or abuse problems will shed a positive light on cryptocurrency for SEC, and as the policies come into shape, everything should be determined within a years time.
Kim also shared his predictions for the price of the cryptocurrency.
He stated “There have been similar downfalls in the past. For another rise, it took at least 3 months to 12 months at the most. Based on past examples, there should be another price increase by December”.