Amid the ongoing crypto crash, mainly caused by the collapse of Terra's ecosystem, the largest Aussie bank has halted plans
Cryptocurrency regulations have been a hot topic of debate among the community ever since digital assets came into existence.
The debate circles whether legislation on cryptocurrencies will carry positive or negative outcomes for the crypto ecosystem.
Some believe that cryptocurrencies such as Bitcoin should operate on their own, without any regulatory oversight. This comes from one of their predominant and perhaps most essential features – decentralization, or the lack of central authorities. This would put the power entirely in the hands of network participants.
However, and on the other hand, there are a lot who believe that proper and well-defined regulations are a critical step towards mass adoption.
In reality, the tendency seems to be favoring the latter group. The well-known and reputable cryptocurrency companies and exchanges are doing their best to abide by the law in order to deliver further security and to avoid regulatory scrutiny.
This is especially the case in the fields of Know-Your-Customer (KYC) and Anti Money-Laundering (AML) regulations. These are welcomed with mixed feelings by the crypto community because they strip away one of the landmark feats of most cryptocurrencies – privacy.
Recent Regulations News
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India's Central Bank is worried that the rising interest in cryptocurrencies may lead to the dollarization of its domestic economy.
Last week a respected stablecoin collapsed in days, destroying a whole crypto ecosystem. Fabio Panetta, from the ECB believes CBDCs
The collapse of TerraUSD (UST), which wreaked havoc on the crypto market, has forced global regulators into taking steps to
The finance minister plans to fill the gaps created by cryptocurrencies within the tax system – for capital gains, VAT,