Regulation of crypto currencies – a future perspective

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The newest asset class taking the investment world by storm is cryptocurrencies. And lack of regulation is its biggest appeal. However, that may change, given a recent call for regulating this segment.  

For some countries it has taken authorities a long time before they can really influence it too much or attempt to regulate it. But along the line eventually it will happen and people might be feeling like they need to have withdrawn before then as it can be hard to predict when that will be. 

Hence people are taking advantage of the unregulated trade to invest. But there have been some countries around the world that have gotten used to the fact that cryptocurrencies are probably not going anywhere any time soon. Therefore they’ve begun taking steps towards regulation.  

Some of these countries even went so far as to put a ban on Bitcoin and cryptocurrencies with the issuing of their national cryptocurrencies to complement their respective national fiat currency. 

The countries include Ecuador, Tunisia, Senegal, Sweden, Estonia, Russia, Japan and Dubai and in that order. 

Just last year in 2017, the government of Dubai revealed intentions to issue a blockchain based cryptocurrency, EmCash, which will be used by residents of the UAE through the Empay smartphone app.  

The currency is being developed through a collaborative effort between Emcredit and UK based blockchain firm Object Tech. 

For more information on the countries and their issuing of their national cryptocurrencies visit: https://bitcoinhub.co.za/list-countries-national-cryptocurrencies/   

 

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