Let’s talk about something different this weekend.

Bithumb in South Korea is set to bring in brokerage shareholders. Kiwoom Securities is looking to acquire a stake through a targeted share issuance. This news doesn’t look huge, but I think it’s quite interesting.

In Korea, all exchanges used to be pure exchange structures. Now they’re starting to bring in brokerage shareholders. Do you know what that means? It means compliance is accelerating. Brokerages are financial institutions under strict regulation. After they invest in an exchange, the exchange’s governance, risk control, and KYC will all become more standardized. For retail investors, it may not seem impactful in the short term, but in the long run this is a step toward Korea bringing crypto into the mainstream financial system.

Robinhood on the other side is seeing the same thing. The predicted market revenue for the second quarter may exceed its cryptocurrency revenue, indicating that Robinhood has transformed from a pure crypto trading platform into an all-category financial supermarket. Regulation is being loosened, and traditional financial institutions are moving in.

This trend is actually the same as what Yili Hua said about “buying the dip in July or August.” The bottom of a bear market is never formed because prices are cheap; it’s formed because the compliance framework has been put in place, and institutional capital has a way to enter.

Of course, just because the road is being built doesn’t mean the cars will drive immediately. But the road is being built—this is a good sign.

$BTC #监管 #韩国 #Robinhood #compliance