WEB 3 HAS A LOT TO OFFER
The IRS and other tax authorities across the world are now treating this asset the same way they do equities for the first time this year. I believe that the stablecoin should be transparent and signed. Of course, that is only an indication that the regulators are now taking a look at payment systems like USDC and has nothing to do with Bitcoin or any other coin. It will send a good message to the crypto market, and I believe it will happen soon. Regulators are under a lot of pressure right now, and this is unquestionably the biggest problem facing the financial services industry.
A fresh attention is being placed on the transparency act for a stable and digital commodity that has lain around for a very long time. Moving your assets away from unregulated exchanges and into a secure wallet or a regulated exchange like Bitbuy in Canada is preferable. The OSC, which is similar to the SEC, regulates the corporation. Assets owned by customers cannot be lent out, are subject to regulatory inspection, and have Proof of Asset. The regulators disagree about who should be regulated, yet the sector can move forward with a regulation.
We can't move forward while they are debating and feel guilty that we can draw institutional investors without compliance. Because it is so beneficial and provides so many services with transparency at a lower cost than the established system, cryptocurrency is undoubtedly here to stay. The widespread adoption of blockchain technology is one of the big promises of web3, and all of the money being invested in web3 development is intended to make that happen. addressing wallet security, wallet usability, and blockchain transparency. A downloadable program that can be used to store stablecoins and enable users to utilize it in nations that have approved it with merely affordable gas expenses will be fascinating.