Regulation of Cryptocurrency

Azeem65

Recruit
Messages
18
What is cryptocurrency?

Cryptocurrency is digital money and has no physical forms. It is in an electronic forum and the exchanges could be done online with cryptocurrencies. Basically, cryptocurrencies are the online medium of exchange and are secured by cryptography which means all your financial transactions online with cryptocurrencies are secure and safe.

Why should a cryptocurrency be regulated:

As cryptocurrency is a virtual currency therefore, it also comes with few challenges hence it is very important for countries to regulate the cryptocurrencies. Let’s have few reasons here why the cryptocurrency regulation is required:

1) Secure and Balanced Value:

Many times there are major fluctuations in the value of cryptocurrency and hence it becomes very difficult because often the value goes high and low which could be a loss as well as gain for investors but regulating them leads to stabilizing the value of cryptocurrencies.



2) Promoting Safety:

Regulating cryptocurrencies surely promotes safety and security by minimizing fear. In past theft of digital money has happened and with the proper regulation of cryptocurrency makes it safe and secure.


Cryptocurrency around the world

As we know that cryptocurrency has taken over the entire world which increases the responsibility of the government of different countries to regulate the cryptocurrencies.
There are many countries where cryptocurrency is well regulated

1) Europe
Cryptocurrency is well regulated in Europe well and is regarded as legal also it is set by individual member states. Switzerland has made a progressive attitude towards the regulations of cryptocurrency in the country.

2) USA
The USA has the most positive outlook when it comes to the use of cryptocurrency as they see cryptocurrencies as security. Though the laws vary from state to state in governing exchanges.

3) Japan
Under the Payment Services Act. Japan considers cryptocurrency as the legal property and therefore, has the most regulated and progressive environment for cryptocurrency.
 

TJ Forex

Corporal
Messages
86
They are always gonna try and regulate it, as soon as they do, something new will be used.
 

Granigamand

Private
Messages
30
It seems to me that this group of assets is an absolutely separate universe that requires separate methods of study and separate ways of analysis. In fact, it seems to me that if you make a decision about it, you have to focus only on it.
 

John perry

Private, 1st Class
Messages
138
I just think the banks will create there own crypto and market it above the current ones and push to increase there value over the likes of Bitcoin. this will again put the banks in control
 

Talar

Private, 1st Class
Messages
54
Crypto currencies have become more popular recently, because many people thought that they now behave more predictably than the dollar or other familiar assets.
Maybe that makes sense. But you can always try it.
 

Farm_Yard_Forex

Private, 1st Class
Messages
104
Not sure they go hand in hand. However I think various cryptos can be more responsible. I just think that as soon as you attempt to regulate it you drive in underground and great more black market activity within it
 

Tahntaman

Private
Messages
19
I also believe that if cryptocurrency had regulation, many potential investors would be interested in them. But at this stage, it is almost impossible to do so. This is where all the instability and high volatility of the cryptocurrency comes from.
 

fxoday

Sergeant
Messages
249
I think still many countries unregulated for cryptocurrency, there is no legal usage, but I see cryptocurrency still become shadow market and included as big market capitalization, but blockchain technology will growth I think and many banks will adopt this technology
 

compu-forex

Sergeant
Messages
129
I think still many countries unregulated for cryptocurrency, there is no legal usage, but I see cryptocurrency still become shadow market and included as big market capitalization, but blockchain technology will growth I think and many banks will adopt this technology
Exactly. Blockchain good. Cryptocurrency bad.

The dream of using it for peer-to-peer type banking/transaction is killed by the excessive transaction costs, wild volatility and by the advent of borderless banking solutions like Revolut and Transferwise, etc. Some people may make a couple of bucks by speculating with it but do we really need an entire asset class that serves no other function.

These days whenever you hear the word scam, expect BTC to pop up in the explanation.
 
Top