The possible regulation of cryptocurrencies is controversial because it could affect the crypto market and its users in many ways. Visit this Homepage, one of the trustworthy trading platforms which can let you trade cryptocurrencies in a hassle-free manner!
Many questions exist if this regulatory regulation is approved by governments and banking entities, who assume that the unrestricted use of cryptocurrencies is not advantageous for the economy.
With the regulation, the user could be protected, providing security regarding his operations, but the social advantages and economic benefits would be eliminated.
Real important points of crypto regulation
After consecutive meetings to define the bases of the regulation for cryptocurrencies, it was concluded that the main focus is that said regulations focus on defending the needs of users, who see this alternative as the solution for sending and receiving money, payments, savings, and acquisition of services and assets.
Regulatory entities should not only focus on billionaires who use cryptocurrencies just for fun and grow their fortunes excessively since some use them out of necessity since they obtain very particular advantages, such as high commission payment savings per operation.
Social impact is an essential aspect to take into account
It is impossible to ignore the humanitarian and social effects that bitcoin has caused in Latin America, especially in Nicaragua, Cuba, and Venezuela, countries that are going through a tremendous economic imbalance and uncontrolled inflation due to the mismanagement of authoritarian governments, which They have wreaked havoc on the population.
Thanks to bitcoin, which has managed to be an economic outlet, it has been possible to receive remittances and inclusion in the financial system of the most excluded, reducing a further drop in the quality of life.
The regulation of cryptocurrencies would affect the free decision to use cryptocurrencies and their inclusion and privacy, which are the main characteristics of digital currencies.
The use of cryptocurrencies is not limited to a specific age, nationality, gender, and capital that a user possesses, aspects that are very present in the traditional economic system, causing the exclusion of many people.
The digital markets of Latin American countries have shown that the cryptographic system has benefited the population significantly without the need for imposed regulation. In general, bitcoin has provided excellent help and benefit to its users, things that banking entities have not considered doing.
The true intent of cryptocurrency regulation
The idea of establishing a regulation is not to end the benefits offered by these digital currencies but, on the contrary, to incorporate rules that guarantee security and confidence in this innovative economic system.
The cryptographic market would benefit significantly since many investors who still do not dare to be part of this new world would do so by observing that there are laws that guarantee the stability and security of their capital.
The regulations are not entirely antagonistic since they seek to guarantee that in the event of fraud or loss by exchange platforms, investment funds, or any other system in which crypto assets are deposited, there is the possibility of recovering said capital. It is not lost entirely, backed by laws and agreements duly decreed.
The negativity that has been seen regarding the cryptographic regulation controversy has led traditional banks to consider the idea of creating their digital currency with which they can compete with cryptocurrencies and manage to maintain their client portfolio; they have chosen to make investments in the crypto market for the benefits and advantages it offers when working their capital.
Cryptocurrencies are currently the best alternative to carry out financial operations worldwide by anyone, which are far from being regulated because their most significant nature is decentralization.
Worldwide, many small and industrial businesses have implemented this economic system, providing the development of a new market free of impositions and governance by people who only think about their benefit.
In the future, the crypto market will be the one that will remain afloat during all these economic crises that the world population is experiencing since there is constantly more demand for investments in cryptocurrencies such as Bitcoin, Ethereum, and many more that enjoy great credibility.
If the regulation is approved entirely, the cryptocurrencies could collapse, making them disappear completely due to the users’ rejection, as they find themselves subjugated again by entities that only want their well-being and the protection of their interests.
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