Government restrictions put cryptocurrencies at risk?

Government restrictions put cryptocurrencies at risk?

Governments around the world are taking new measures looking forward to control the use of crypto. Is this affecting them? Keep reading and find out all the details in this article. Read on!

Governments around the world are taking new measures looking forward to control the use of crypto. Is this affecting them? Keep reading and find out all the details in this article. Read on!

Cryptocurrencies have numerous characteristics defended by their users, but among all of them there is one that stands out above the rest: thanks to being decentralized, they are out of the reach of government and monetary authorities.

And for this reason, it was seen with good eyes that China stopped concentrating so much percentage of Bitcoin miners so that the activity would add new destinations and not remain in the hands of a few.

Thanks to being decentralized, they are out of the reach of government and monetary authorities.

But the scenario has changed in recent years and today these types of assets welcome large players and companies among those who bet on them, many of which also play a prominent role in the traditional stock market. In addition, firms like Coinbase, took to Wall Street this year.

And this huge growth ended up putting them in the crosshairs of financial watchdogs, who are debating how to ensure that they are not used for money laundering or terrorist financing.

The administration of Joe Biden and his campaign to recover funds paid in cryptocurrencies after the great hacker attack carried out in the United States is a clear example of this. Worse also poses a serious risk that caused a division in the sector.

In this way, as anticipated by Ian Taylor, CEO of CryptoUK, many of those who bet on these digital assets in the beginning, because they are "outside of centralized control", will have to accept the large conventional operators.

Firms like Coinbase, arrive to Wall Street this year.

Thus, the firm Crypto.com, claimed to be the first of its kind to obtain an electronic money institution license -in Malta-, which will allow it to issue payment cards and leaves the door open for more companies to imitate it. What will the rest of the sector do?

With a total volume of $1.3 trillion, the crypto market is no longer a fad and is looking forward to a maturity that is still far from coming

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