We live in a free world. where we can choose what we have to do. We control our life as we want but with many exception. As the old saying says “your liberty to swing your fist ends where my nose starts”. Every human being on this earth is driven by economy, and in every country their respective government or government body or regulatory body controls it.
Also there is a system to regulate world economy and the currency of every country. These regulations and control makes the economy and currency relevant. Let me explain it in simple words. Suppose you are going in a shopping mall to purchase something. After shopping you give self printed currency to the shopkeeper, you might end yourself in the prison. Because you have given him an irrelevant currency. Hence regulation on every currency needs to be regulated.
There is a currency being used all over the world which has no regulatory body. Every trader must have heard about this currency i.e. cryptocurrency. Cryptocurrency is currently the biggest investing arena. It has the market share of approx 1.4 billion USD. As I told earlier it has no regulatory body it has some pros and cons. Today i will tell what is the need to control cryptocurrency. One important thing i would like to tell you that if you want to invest in cryptocurrency you can contact to cryptocurrency customer care.
Need to regulate cryptocurrency
In order to stabilise the value of cryptocurrency, it needs to be regulate. Cryptocurrency has experienced wild swings so far. Last few months cryptocurrency has seen extreme highs and lows as far as its value is concern. These highs followed by the unexpected lows when the value of gold is constant, has shown its nature of unpredictability. These highs may have made some people very happy but at the other end lows might have made many people very nervous as well. Many experts had also failed in predicting its value. Regulating cryptocurrency could stabilise its value and extreme changes. If you have any doubt about this you can contact to bitcoin customer service.
The most important reason to regulate cryptocurrency is to create trust or at least reduce fear. Because of blockchain encryption technology it is completely safe. For safety, cryptocurrencies also have 2 factor authentications. But thefts of digital currency have happened and there are still fears about cryptocurrency. Because of these fears the market of cryptocurrency is affected. With its regulation may come with more acceptance.
Currently cryptocurrency is not being treated under the tax policy of different countries. The current classification of cryptocurrency is like as asset. But if you keep cryptocurrency as an investment the gains and losses has to be reported. Many companies have used this to evade tax. Hence to avoid these type of tax abuse the cryptocurrency has to be regulated.
These are few issue because of cryptocurrency needs to regulate. Although it is becoming more popular day-to-day. If you want to invest in cryptocurrency and have any question then you must contact to crypto customer care.