“I can say almost with certainty that they will come to a bad end” now infamous words from Warren Buffett yesterday have been almost timed to perfection with news from South Korea overnight that they are planning a bill to ban Cryptocurrency trading.

The speculative hype is nearing an inevitable demise. Who really thought that the Central Banks would not intervene? A huge statement from one of the world’s largest hub for trading virtual currencies.

The appetite for Cryptocurrencies is primarily fuelled by demand for tax evasion and unavoidably exchanges are left exposes to being reprimanded. This is exactly what happened in South Korea with the largest exchanges raided by tax agencies, perhaps setting an early precedent for other authorities. This crackdown has clearly calmed frenzied demand for cryptocurrency trading.