Crypto Regulations ! Good or Bad
We are hearing about Crypto regulations daily. All the regulatory body is fearful about cryptocurrency. They are welcoming blockchain technology but fearful about cryptocurrency. Mostly, Due to the fact that it will impact their native currency. There are other reasons like:
- Terrorism Funding
- Drug related offence
- Other crime related to Cryptocurrency
- Money laundering
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All government are concern about the financial security. China is the leader to take action against Cryptocurrency. End of last year Chinese government banned Cryptocurrency and Crypto related activities.
China Blockchain Policy
Recently, china is enthusiastic about Blockchain technology. Even China publish the ranking of public blockchain projects. It seems that China will adopt blockchain project massively. But before that they want to make sure eveything is safe and secure of the country.
China is adopting Blockchain before Bitcoin policy. All other small economies may follow China policy of blockchain Technology.
Cryptocurrency Exchange Hack
We are tired of hearing about Cryptocurrency exchange hack, ICO Scams or other crypto related crimes. Cryptocurrency hacking is the most common and deadly among all. Even the best cryptocurrency exchange was hacked. Few days back, South korea's Biggest and most popular Cryptocurrency exchange was hacked stealing huge money.
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Japan is the worst victim of Crypto hack. Mt.Gox to Coincheck Billions of dollar was lost due to cryptocurrency hack. This year more than $12 Billion Dollar has been raised through ICO's. We do not know whether all of the money raised will be used properly. May be some of them are pure scam.
Cryptocurrency Regulations
South Korea, Japan and Hong Kong are thinking about Cryptocurrency regulations. Japanese government already instruct all Cryptocurrency exchange to ensure safety and security of the investors. South Korea does the same. Some sort of regutions is quite good in the long run. Without government help, It is quite difficult to adopt cryptocurrency widely. There should be fine line between freedom and some regulations.
What is your opinion on Crypto regulations and Crypto hack? Please let us know your comment below
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some regulations is good for this tech. It brings confidence to the market
i completely agree with you
Regulation is very very necessary in the crypto world. That way, institutional investors will be confident to invest in crypto. Also,ICOs needs regulation so that we stop hearing of exit scam
Almost one dollar worth of crypto was hacked this year. some sort of regulation is necessay to prevent scamming and hacking
you said it rightly. today i heard evrn a decentralized exchange is hacked. what is going on?
Hacking can always be prevented if the right people are employed for the job. Have you asked yourself why coinbase has not been hacked yet?
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