Some of the world’s leading economies are taking a fresh peek into how the cryptocurrency market should be regulated in their respective regions.
Rather than banning ICOs outright like in China, these countries’ monetary authorities and regulators are looking to how to control, but not completely stifle, the growth in digital currencies.
The headache for many agencies though is to figure out what would be the correct way of doing this. Due to the alternative nature of crypto coins, many regulators struggle to class it under the same policies as traditional investment assets.
Japan is set to introduce more rigorous oversight on cryptocurrency exchanges in October this year, but regulators are still coming up with ways to do this efficiently without killing the growth of the industry.