Regulation of Cryptocurrency

#1
What is cryptocurrency?
Cryptocurrency is digital money and has no physical forms. It is in an electronic forum and the exchanges could be done online with cryptocurrencies. Basically, cryptocurrencies are the online medium of exchange and are secured by cryptography which means all your financial transactions online with the regulation of cryptocurrencies are secure and safe.

Why should a cryptocurrency be regulated:
As cryptocurrency is a virtual currency, therefore, it also comes with few challenges hence it is very important for countries to regulate the cryptocurrencies. Let’s have a few reasons here why the cryptocurrency regulation is required:

  1. Secure and Balanced Value:

    Many times there are major fluctuations in the value of cryptocurrency and hence it becomes very difficult because often the value goes high and low which could be a loss as well as again for investors but regulating them leads to stabilizing the value of cryptocurrencies.
  2. Promoting Safety:

    Regulating cryptocurrencies surely promotes safety and security by minimizing fear. In the past theft of digital money has happened and the proper regulation of cryptocurrency makes it safe and secure.
Cryptocurrency around the world
As we know that cryptocurrency has taken over the entire world which increases the responsibility of the government of different countries to regulate the cryptocurrencies.

There are many countries where cryptocurrency is well regulated

  1. Europe
    7Cryptocurrency is well regulated in Europe well and is regarded as legal also it is set by individual member states. Switzerland has made a progressive attitude towards the regulations of cryptocurrency in the country.
  2. USA
    The USA has the most positive outlook when it comes to the use of cryptocurrency as they see cryptocurrencies as security. Though the laws vary from state to state in governing exchanges.
  3. Japan
    Under the Payment Services Act. Japan considers cryptocurrency as the legal property and therefore, has the most regulated and progressive environment for cryptocurrency.
  4. Cryptocurrencies in the UAE

    The UAE primarily controls the trading of cryptocurrencies by DIFC, ADGM, and the rest of the United Arab States. According to the declaration released by DFSA, the DIFC official regulator, no organization is permitted to issue DIFC cryptocurrencies.
 

Hulu Girl

Active Member
#2
According to the Central Reserve Bank, as the monetary authority, regulator of the financial system, and watchdog of payment systems, there is currently no legal or regulatory framework applicable to crypto currencies or their equivalents. First, governments can regulate the price of assets, such as fiat currencies, through buying and selling actions in international markets. Most states require surety bonds or an equivalent amount in fiat currency for crypto currency exchanges within their jurisdictions.
 

stoch

Active Member
#3
Crypto currencies are doomed, the latest attack on crypto world is the FCA ban of crypto derivatives. Without possible extreme returns crypto will quickly lose its charm I guess. But I still occasionally trade BTCUSD with Hotforex using simple ATR-based technique
 

stoch

Active Member
#4
I am not sure if they're doomed, it's the thing of the future in my opinion.
Regulated crypto issued by a Central Bank - yes. Decentralised versions exist only for trading and perfect for illegal activities which is the biggest obstacle for governments to accept them.
 
#5
The court held that the circular issued by RBI is unconstitutional, as reported by the news.Bitcoin.com. The Indian crypto community won the case against the RBI. The ban was finally lifted by the Supreme court on cryptocurrencies, and thus, trading in cryptocurrencies is now legal.
 

Hulu Girl

Active Member
#7
Currently, cryptocurrencies are considered to be regulated in the US by several institutions: CFTC, IRS, SEC, making it difficult for formulating overarching regulatory guidelines. Bitcoin could be regulated. In fact, its regulation would have already begun with the fiat onramps and adherence to strict KYC and AML laws.
 

mastermind007

Well-Known Member
#8
The court held that the circular issued by RBI is unconstitutional, as reported by the news.Bitcoin.com. The Indian crypto community won the case against the RBI. The ban was finally lifted by the Supreme court on cryptocurrencies, and thus, trading in cryptocurrencies is now legal.
Kindly please attach the exact judgment here ....

I personally don't think that Indian governance would easily tolerate foreign operated currency.
 

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