Crypto currency regulation a must!
Since the inception of cryptocurrency in the world, the market has provided the investors with a wide range of opportunities to invest in a diverse range of cryptocurrencies, stablecoins and earn good returns. The investors are surely ecstatic at the opportunity that the cryptocurrency market provides.
As, the opportunity for investors has increased, the opportunities for fraudsters, hackers and criminals has also gone up in the crypto space. As every day passes by, a new crypto crime comes into light, making severe dents in the minds of the investors. While the market is in a turmoil and is trying to cope up from the impact of crypto market implosion, the crime situation of the market is no better.
Many crypto experts are vouching for a strict cryptocurrency regulation. There have been movements in the space, that justify that there is a change happening in the market in regards to regulation. The regulators are proactively imposing fines and even shutting down non-compliant cryptocurrency exchanges.
Crypto investors can not be working in making the crypto policies.
According to a recent directive from the US Office of Government Ethics, employees of the U.S. Government who actively invest in cryptocurrencies or are found to be in possession of any, are forbidden from participating in the formulation of laws and regulations governing cryptocurrencies.
Though there are some exemptions for the above stated law.
Due to this exemption, owners can still invest in cryptocurrencies through publicly listed shares and mutual funds of companies providing cryptocurrency and blockchain services. All cryptocurrency types, including stablecoins, are included.
Cryptocurrencies are still available to government employees. However, doing so will preclude them from making a contribution to the creation and application of rules pertaining to cryptocurrencies.
However, as long as they invest their cryptocurrency holdings in other business prospects, they can continue to work on these efforts. The de minimis exemption has been established at $50,000, however even for people who are allowed to invest in cryptocurrency-related stock index listings, it is no longer applicable above that amount.
Writer’s Report
The need of the hour for cryptocurrency market, is for policies and regulation to achieve two primary goals. One of the most important goals is to revive the market back from bearish to bullish. The second goal of the formulation of the policies should be to attack the criminals and curb the rate of crimes as much as possible!
