Malta adopted a number of laws relating to crypto-currency regulation, and thus became the first state to offer the legal basis for having an ICO in the country.
Previously, Lithuania announced plans to establish a platform for legally holding the ICO.
According to analysts' forecasts, the next two years will determine the location of the crypto money in the world market, but this is a rather tough process, because the lack of regulatory rules hampers the development of the industry.
The biggest threat to crypto paralysis is seen as financial regulators. Recently, Bank of America has prepared a report stating that crypto money is a threat not only to itself but also to the financial system as a whole because of the distorted financial institutions, making it more difficult to control cash flows.
Due to their anonymity, units have become a convenient payment tool for criminals. But this is not the main problem, but the real problem is that Blockchain has become a more accessible and transparent alternative to banking operations. This brought to light the fact that banks could not continue to compete in the market. High transaction speeds and low commission fees have caused people to gradually switch to smart contracts.
Regulators have come up with stringent restrictions on cryptography to regain control of the financial sector. For example, in India, cryptographic exchanges are completely banned from banks. Venezuela, on the other hand, created his own crypto-currency, Petro.
The chief financial regulator of the US Securities and Exchange Commission (SEC) recognizes the legitimacy of cryptographic money, but stresses that ICO legislation must be finalized on a regular basis. . In addition, a number of state federal services have recently launched an operation to combat fake ICOs because of the success of only 8 percent of crypto money campaigns.
And the Chinese government completely banned ICO, but regulators
Crypto money exchanges
While developing rules for legal regulation of crypto money, central banks take into account two factors, namely money laundering and the policy of countering the gradual expansion of cryptographic currencies .
The first factor is related to the global trend of the market transparency struggle. The second factor stems from the development of Blockchain and ICO.
In this context, we can expect tightening of stock exchange rules and gradual elimination of the anonymity of crypt money. Some countries, especially the European Union, have already banned anonymous transactions. A leading crypto money exchange has gradually introduced user authentication to its platforms.
Japan decided not to ban anonymous transactions, but also decided not to cancel anonymous crypt money. After the hacking of Coincheck, the Financial Services Agency (FSA) oversees all cryptographic exchange exchanges and took a number of unsupported platform hangs.
In the future, we can expect crypto money exchanges to work together with tax authorities. This is not only about combating money laundering, but also about attracting corporate investors to the banking sector.
The number of financial products associated with crypto money is increasing day by day. In particular, a stock exchange such as NASDAQ is joining the crypto money market, which will secure the market and accelerate the development of Blockchain technology.
Crypto money community
However, all these steps may not go well. The crypto money community is extremely sensitive about the possibility of anonymity being banned. However, some experts believe that a complete ban on anonymity is only a matter of time, and they agree that only a few of the most popular digital parcels among a large number of crypto currencies will be on the market.
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