President Joe Biden Signed An Executive Order On Wednesday Calling On The Government To Examine The Risks And Benefits Of Cryptocurrencies.
The chairman of international banking law and finance at the university of edinburgh, professor emilios avgouleas, says that tighter crypto regulation will benefit the industry in the long run. “bitcoin is just a crappy tech stock now.”. I think we’ll see more regulation around messaging and communication, but there are also more structural questions.
It Could Create A Solid Foundation For The Burgeoning Cryptocurrency Industry But Could Also Stop It In Its Tracks.
This, as one can imagine, is not something that most crypto evangelists would like as it’s one of the things they mostly want to avoid. Therefore, regulating bitcoin’s market implies the opposite. Photo courtesy of school of law.
The Primary Benefit Of Bitcoin And Most Other Cryptocurrencies Based On Blockchain Technology Is That They Don’t Have A Central Authority, Payment Processor, Or Company Owner.
Cryptocurrencies and novel inventions do not fit neatly within regulatory frameworks. Regulation could create ownership for binary virtual assets. Proper regulations could divide virtual assets into unregulated and regulated categories.
He Noted That Increased Regulatory Measures In Crypto Are Needed To Protect The Growing Number Of Investors Who Are Actively Participating In.
In addition, the severe volatility has led to a decrease in the usage and acceptance of the cryptocurrencies as most buyers choose Setting of clear guidelines by which crypto traders can operate across the whole network so as to have reliable and widely accepted rules, and make it easy for culture adaptability. Its regulation is currently being worked on, and there are several directives of the european union pending approval.
Challenges Facing Cryptocurrencies Speculation:cryptocurrencies Have No Valuation Basis, Which Has Led To A Speculative Bubble.
Many of the world’s biggest governments are beginning to regulate the sale, ownership, trading, and mining of cryptocurrency. Regulate cryptocurrencies to benefit from the opportunity and mitigate associated risks. Agree that more effective regulation of crypto will make that market more attractive for participation by banks.