Although the full details of the amendments to the law is not out yet, its objective appears to be 1. to clarify that cryptocurrencies are not the same as national currencies (or at least not yet), 2. limit the trading limits to contain the losses and 3. to monitor irregular transactions.
Until the amendments comes into effect and its full details are made available, it will be difficult to make a definitive judgment call on its effects.
It is my understanding that attempts are being made to trans-nationalize currency to eventually regulate crypto. So that first object might server to protect the interest of national currencies.
Although the full details of the amendments to the law is not out yet, its objective appears to be 1. to clarify that cryptocurrencies are not the same as national currencies (or at least not yet), 2. limit the trading limits to contain the losses and 3. to monitor irregular transactions.
Until the amendments comes into effect and its full details are made available, it will be difficult to make a definitive judgment call on its effects.
It is my understanding that attempts are being made to trans-nationalize currency to eventually regulate crypto. So that first object might server to protect the interest of national currencies.
You mean the possibility of a single global currency is being studied?
I would make that assumption and have heard some chatter. But, I was actually referring to global taxation and aligning national interests.