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What Will The Future Of Cryptocurrency Regulation Hold?

There is no stability when it comes to the cryptocurrency market. Regulators around the world are trying out all ways to control trading on cryptocurrencies. Developed through the Blockchain technology the cryptocurrency was associated mostly with sales under the internet. It is not impossible to track the transactions that are made through the cryptocurrency but yes it is difficult.

There is no central authority that governs the transactions that happen in cryptocurrency, trulycoin.com, nor is there any regulatory exchange. Also, should the digital wallet be hacked the investors will have very little in terms of protection. There are a number of scams and the cyber attackers stealing funds is something not unheard of.

The marketplace of cryptocurrency is dangerous and risky because with no proper security. The cryptocurrency market is instead impacting the traditional exchanges as well. There are companies that are just using the word Blockchain with their names to attract investors, even if they have nothing to do with it. There are many attackers who are rising on this Blockchain as a fraud and causing problems for the regulators.

It is estimated that the regulators around the world will get down on the illegitimate companies and this would be followed by fines and jails. Many countries have banned cryptocurrencies. They have both termed it as a legal tender and ruled it out and some countries imposed a heavy fine if there is any dealing in cryptocurrencies.

Some of the countries have made it compulsory to trade in cryptocurrencies under the traditional financial structure. This means that the cryptocurrency is no longer an anonymous of the decentralized platform here.

The countries have also made it compulsory to declare the profits made by trading in cryptocurrency.

There is still a lot of confusion when it comes to cryptocurrencies and many countries today have altogether boned it.

The cryptocurrency is a global concept thus it is very unlikely that there will be any true control of this currency.