Cryptocurrency regulation is approaching, True or False ?
The cryptographic world is characterized by a significant advantage that it presents, which is decentralization and financial freedom, since they are not regulated by any banking or government institution, facilitating all types of negotiation, even illegal ones, which has put them in check and has created mistrust in the corresponding entities.
Cryptocurrencies are currently widely accepted worldwide, due to which the possibility of their use is being chosen more seriously and consciously.
Several countries have already implemented some laws and regulations regarding the use and trade with cryptocurrencies to regulate money laundering and promote the growth and global development of the economy.
Countries promoting regulation
In Europe, the European Union has been promoting projects that promote the development and progress of cryptocurrencies within a legal security regulation that protects users and their operations.
It allows companies and users that provide crypto services to protect consumers in case of losses or scams on exchange platforms.
Other countries such as FRANCE, THE UNITED KINGDOM, EL SALVADOR, THE UNITED STATES, BRAZIL, AND THE ASIAN CONTINENT, have also joined the possible implementation of regulations that govern in some way, although not so directly, the use of cryptocurrencies, avoiding as much as possible that are linked to fraudulent businesses.
Latin America has stood out in being the promulgator of applying regulatory norms for the use and management of cryptocurrencies since these territories is involved in many drug trafficking activities.
It is framed mainly in Colombia, a country that has spent all its time trying to eradicate illicit violence businesses, and with the proliferation of cryptocurrencies without control, this has increased much more in Colombian society and economy.
Mexico is not far behind since it has also been the cradle of illicit activities; in this country, a law was created that regulates technological institutions; this regulation introduces the concept of virtual assets in the international legal framework, understanding cryptocurrencies.
Cryptocurrencies are backed by blockchain technology but, failing that, do not respond to fraud or loss of value in the markets.
Regulation is a fact
Cryptocurrencies are tax-free; this feature also draws the attention of government institutions since, with the implementation of exchange control, great benefits and tax gains can be obtained for nations.
Although not totally, cryptocurrencies will begin to be managed in a more controlled way, thus avoiding their inclusion in money laundering and many other negative activities that only profit and benefit a minimum of the population.
Cryptocurrencies have become the basis of a new way of managing the economy; many institutions, public and private organizations, users, and private investors have used them as their digital assets for negotiations and trading in virtual markets, with which they have obtained very lucrative profits and benefits.
In the future, it is estimated that it will be the most used form of payment globally in the economy; cryptocurrencies, especially Bitcoin, represent the financial evolution of many of us who believe in virtual currencies and that you can make good money from Bitcoin.
Significant developments are coming in technology that goes hand in hand with cryptocurrencies; this will produce significant effects in everyone’s lives, marked by profitability and economic balance that can only be achieved with investments in virtual cryptographic markets.
The regulation of cryptocurrencies will have devastating effects on them, but with the passing of days, everything will make sense and normality, adapting to the new guidelines established for their commercialization.
Cryptocurrencies were created to be used freely and without any control; they are their most attractive characteristic aspect,But this has generated controversy since they are being used and formal and legal investments in fraudulent and dangerous businesses.
We must accept the changes that arise in cryptographic regulation since we contribute to the good of society by eradicating negative and destructive aspects that even threaten human life.
Cryptocurrencies are very profitable and beneficial, but they must be used in a controlled and conscious way; we must know what we are investing in and where these funds come from to not contribute to illicit enrichment.
The regulation is underway and is increasing more and more; in a short time, it will reach all corners of the world where apply cryptocurrencies in the economy.
In turn, it will give a greater degree of confidence to users and future investors.