๐Will crypto be banned in the U.S.? Rumors of a new crypto law!
A document about the new crypto regulation in the U.S. began spreading in the social media on Monday night.
๐The document is almost 600 pages long, and here is a summary:
๐ธ Compliances, DAOs, exchanges, and stablecoin providers would have to become registered entities
๐ธ Security laws have been re-painted with clarity, and a host of assets have been re-classified as commodities under the CFTC.
๐ธ Compliance costs are proposed to be risen. Investors might have to indirectly bear the burden of the same as exchanges would try to recover the same via higher fees
๐ธBankruptcy definitions have also been changed. Per the bill, assets deposited would get returned to users and not liquidated.
๐ธFee offsetting rules mean exchanges would have to pay the government from fees, and the same would likely escalate costs.
๐ธ The proposal also gives depository institutions the right to issue stablecoins.
๐Are the crypto regulations positive or negative for the crypto market The market will be increasingly safer for the retail and institutional investor and what used to discourage will now only attract. For example, Binance has been cleared and passed all inspections in major EU countries. This will only speed up the adaptation of crypto into the normal life of a person who is not even connected with crypto. So it`s a positive.
For example, China, having banned mining and crypto, is trying to regulate and oppose new technologies. The U.S. is trying to adapt new technologies, that is why the economy of this country remains No.1 in the world, and 90% of investment funds are located there.
๐Why should we keep an eye on these trends? What the U.S. starts, eventually adapts in all countries of the world: India, Australia, Pakistan, Malaysia, EU countries, Ukraine, Nigeria and many other developed and developing countries.
The regulation of cryptocurrencies will lead to positive long-term consequences, as a large number of blockchain-based products have been created for fintech, agriculture, retail etc.
What do you think about new possible crypto regulations? Will it help the crypto to grow for the next 2-4 years? Share your ideas in the comment!
๐ปFriends, press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
๐The document is almost 600 pages long, and here is a summary:
๐ธ Compliances, DAOs, exchanges, and stablecoin providers would have to become registered entities
๐ธ Security laws have been re-painted with clarity, and a host of assets have been re-classified as commodities under the CFTC.
๐ธ Compliance costs are proposed to be risen. Investors might have to indirectly bear the burden of the same as exchanges would try to recover the same via higher fees
๐ธBankruptcy definitions have also been changed. Per the bill, assets deposited would get returned to users and not liquidated.
๐ธFee offsetting rules mean exchanges would have to pay the government from fees, and the same would likely escalate costs.
๐ธ The proposal also gives depository institutions the right to issue stablecoins.
๐Are the crypto regulations positive or negative for the crypto market The market will be increasingly safer for the retail and institutional investor and what used to discourage will now only attract. For example, Binance has been cleared and passed all inspections in major EU countries. This will only speed up the adaptation of crypto into the normal life of a person who is not even connected with crypto. So it`s a positive.
For example, China, having banned mining and crypto, is trying to regulate and oppose new technologies. The U.S. is trying to adapt new technologies, that is why the economy of this country remains No.1 in the world, and 90% of investment funds are located there.
๐Why should we keep an eye on these trends? What the U.S. starts, eventually adapts in all countries of the world: India, Australia, Pakistan, Malaysia, EU countries, Ukraine, Nigeria and many other developed and developing countries.
The regulation of cryptocurrencies will lead to positive long-term consequences, as a large number of blockchain-based products have been created for fintech, agriculture, retail etc.
What do you think about new possible crypto regulations? Will it help the crypto to grow for the next 2-4 years? Share your ideas in the comment!
๐ปFriends, press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
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