BTC value is appreciating rapidly. This is definitely grabbing millions of eyeballs worldwide. The count of people willing to leverage the financial potential of this fintech innovation is fast reaching cloud nine.
Appreciation of BTC value is making it an alternative to the traditional centralized financial system. This is why it is being accepted in all walks of life as a model of decentralized and speedy payments.
Even governments in all parts of the world are considering the application of this fintech innovation. This is not turning out to be a cakewalk for any government in the world.
As for the reason, cryptocurrency transactions are carried out on blockchain systems. Tracking transactions carried out on blockchains is like cracking a hard nut.
Therefore, governments are endeavoring to regulate this fintech innovation. This could be possible only with the introduction of bills.
This is something everyone investing in this domain of finance needs to understand.
The List of Countries Trying To Regulate Cryptocurrency:
Some countries in the world have already introduced bills about it whereas some are working in this direction. This is something everyone looking for a new crypto asset to invest in must know about. The list of countries that have introduced bills about it includes but is not limited to the following only:
The list does not end here only. More than one hundred countries in the world have similar steps in this direction.
It is mainly because of the following reasons:
- Governments are struggling to understand this fintech innovation, its capability, and the technology behind it.
- Most of the people in the world trust centrally regulated financial systems.
- Cryptocurrency transactions are carried out on Blockchain. Therefore, tracking these digital and decentralized transactions is not so easy.
- Cryptos are being addressed as a currency. Why? This is something that governments worldwide want to understand.
The Bottom Line:
More than one hundred governments have introduced bills in their country about it already. The government of India is working in this direction to join the bandwagon. The list of reasons has already been specified above.
Therefore, Indians looking searching for the best crypto assets like the LUXURIOUS PRO NETWORK TOKEN, are advised to play the waiting game for some time.
This patience will help take the right decision after the Central Government of India clarifies its take on cryptocurrencies during the second week of March 2021 with the introduction of Cryptocurrency and Regulation of Official Digital Currency Bill in the parliament house.
If needed, the central of India may take an ordinance route to pass the bill at any time.
Keep coming back to our website to know details about it.
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