There are Bitcoin regulations that must be followed and obeyed by the user based on the laws of their country. This article will talk about it and if you like this article, visit my website to see more.
Bitcoin is one of the most used cryptocurates in the world. It can be used to exchange one thing, exchange against other cryptocurates, etc. What is Bitcoin especially? With Bitcoin you can quickly transfer money from third parties online. Bitcoin stores a bitcoin portfolio that is very safe. Unlike the bank, if you transfer money to another country, a third party is needed. Bitcoin also helps to reduce the costs paid for the third party, Bitcoin only has a transaction costs that are much lower than the fees charged by the third party. The Bitcoin system is complete between peers, traders are not interrupted by a third party. The very fast bit coin transfer from the bank needs 5 to 10 business days to transfer money from one country to another country.
This is the benefits of Bitcoin. Some people like to use Bitcoin as a payment of illegal drug trafficking. Part of the board of the country must create a law against this illegal activity. Samestion, written by Bajapai (2019), such as Russia, China and Vietnam, have fully prohibited the use of Bitcoin. This is the result of the nature of the cryptive rate that is decentralized can lead to many clandestine problems such as drug trafficking and illegal transaction. In addition, in 2017, Liang declared that China “initial currency” has banned crypto curces because it is accused of “the initial currency offer” an unauthorized fundraising campaign by the government. As the Authority should not necessarily be appropriate by the Authority and cannot be checked by the government.
In other word policy, such as knowing your customer policy, was implemented in the cryptocurrence ecosystem. The government creates a law against crypticurrings, will influence the hoe of investor cryptrows. When the government has made the Cryptocurrence Act, it limits the use of cryptrokness. For example, in 2018, Reina stated that the price of Bitcoin collapsed after the Chinese government reported to close all national exchanges of Cryptocurrence. The cause of the price of cryptocurrence leads as a result of the number of cryptocurrut, reduces and loses its value. Unlike China, the Minister of Finance of Russia has prohibited crypticurput, but not Blockchain’s technology. Part of cycling chooses to ban Bitcoin and some have decided to leave their citizens to have freedom to negotiate bitcoin. It depends on the Contro itself. It is always a citizenship.
To conclude the article, the government must respond immediately before it is too late. Investors must be careful when you invest in cryptic rates. Local authorities can increase the consciousness of crypt stirring by organizing various campaigns around the world. Thus, the government must take responsibility for solving the negative impact of Cryptocarcia on the economy and solving the problems that investors face to invest in cryptic rates.