As The Govts Appointed Crypto Committee Yet To Submit Its Report On Bitcoin Regulations, Exchanges Speak Of The Unaddressed Issues
Mail Google Pinterest Reddit Pocket Hackernews Amid huge restrictions, investigations and regulatory threats, cryptocurrency, since attaining its highest peak ever in December, last year, now continues to be on the downside.
Currently trading at $6.6K, Bitcoin has apparently lost its golden charm. However, cryptocurrency proponent John McAfee, still high on Bitcoin, is betting it to cross $1 Mn.
Countries like China, Morocco, Ecuador, Bolivia, Bangladesh and Nepal have already banned cryptocurrency exchanges and ICOs.
Microsoft founder Bill Gates who once stated: Bitcoin is better than the currency has now lost his faith in Bitcoin. He recently said, I was wrong about Bitcoin.
BES171/Money#3: Bitcoin Simplified, Blockchain technology how useful in Banking transactions?
Gates is not the only one, a huge number of traders are frustrated with the ongoing hide and seek regulation. Tron , Ethereum and Ripple are some other cryptocurrencies, the crypto enthusiasts are now betting on.
However, keeping the Solaris effect aside, the reality is not very encouraging. As the Solaris author Stanislaw Lem puts it, Every science comes with its own pseudo-science, a bizarre distortion that comes from a certain kind of mind. Speaking to Inc42, Sathvik Vishwanath, co-founder and CEO of Unocoin stated, Of course, cryptocurrency has its own limitations; but so does the conventional currencies.
After Coincheck , Japan underwent the largest cryptocurrency hack ever, the Financial Service Agency has further hardened their cryptocurrency regulations in the country.
As a result, five cryptocurrency exchanges out of 16 licensed and 11 operating with license pending have now shut down their operations and more are expected to follow the line, citing the regulatory tweak. In India too, the Central Board Of Direct Taxes (CBDT) has purportedly asked the cryptocurrency traders who were earli Continue reading >>