Cryptocurrencies and other digital assets are growing at a very fast pace and it’s almost scary for people to grasp this growth. The developments taking place in this space are far beyond what we ever imagined and a lot is happening together.
On one side we see some nations are running away from these currencies and they are utilizing their power to shut its operations. On the other side we see other nations are accelerating and participating in its growth because what they see is the potential and future of these digital assets. For more information visit Bitcoin Prime site.
For those reasons, it is very difficult to put crypto in a single bracket alone. It is the kind of digital asset that will always come with its set of pros and cons and there is no escape from the same.
Two Sides of a Coin
People who are promoting the use of these digital assets see them as an opportunity. An opportunity to get away from manual systems, an opportunity to decentralize the system and put power in the hands of the ordinary people, a way to bring in more transparency in the operations, and most importantly a way to escape the scrutiny of the government.
At the same time, there is another set of the population that is scared of this system because they fear it will disrupt world stability and will create chaos and volatility regarding payments and money.
Earlier it was cryptocurrencies alone but now Facebook’s Diem (formerly Libra) has also announced that it will be coming to rule this space in the future. Now, all of this has created a very strong need for a proper regulatory system to govern the cryptocurrencies. Though its very nature is based on its decentralized features and lack of accountability if in the long-run it wants to be accepted and become a part of the mainstream financial system it will need to come under the gambit of rules and regulations.
In this direction, the European Union will be taking its first move soon. There has been news that the strongest European countries have called a joint meeting to discuss the way ahead in the crypto industry. These nations include Italy, France, Germany, the Netherlands, and Spain. They are pushing for a well-regulated and comprehensive strategy to govern the Crypto-industry which in their opini
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You can Find it Here: How The European Union is Shaping and Designing the Future of The Crypto Industry?
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