South Korea to ban cryptocurrency!!!!!

As I'm sure many of you fellow cryptocurrency lovers noticed over the past day or so. Basically everything trading on binance. My exchange of choice. As well as most others exchanges. Well has pretty much took a plunge. Now I've only been in cryptos for a few months. But have already come to notice when there's a huge down trend like this is usually because there's some kinda news causing it. No matter good or bad trends when their major it's usually some kinda news. Well I noticed this time its not just one coin or a few it's been all of them this time. Usually if they altcoins are down Bitcoin will be up and a lot of times vice versa. Well I got curious as to what in the world had everything on such a downward spiral. So I did a little investigating and found out that south Korean justice minister is basically proposing a ban on cryptos. Though not everyone on the South Korean government feels the same. The finance minister has refused to support the ban. So as South Korea decides. The rest of us sit back and watch out profits take a hit. Unless you pulled your money out or moved it to usdt in the mean time which is usually the route I take. I'm just wondering where does this all lead? On the event that South Korea does ban cryptocurrency. Being that there one of the biggest crypo countries in the world. What effects would that have on our investments. Would other countries jump on the band wagon and follow with bans of their own. As we all know the oh so powerful Federal reserves that seem to pretty much run the world sure don't care for cryptocurrency. Is this a push by them at getting the ban going? Idk personally where all this leads. Just a few thoughts and questions after I found out about the Korean proposal to ban the investment and technology I've come to love. Any thoughts would be greatly appreciated and any facts to add as well. Thanks all for your time.