This week on #BlockchainCentral: Private storage and exchange of value exists in the market today with things like rewards programs, but why is #cryptocurrency being targeted by severe regulations? In the United States, the SEC is the head arbiter of all cryptocurrency related activities. While they have accepted bitcoin based products such as Bakkts Bitcoin Futures, they also have done their best to prevent other cryptocurrency ETFs from launching, putting them in a position of both acceptance and prevention of crypto-assets finding their way into mainstream financial products.
In the US, the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC) are two additional bodies that are working to ensure compliance for cryptocurrencies and companies operating essentially banks within the space. Add to this FinCEN (Office of the US Treasury Department for the Fight Against Financial Crime), and the amount of bodies looking to find the correct position for cryptocurrencies within the current legal system seems a bit daunting.
But its not just the States that are undergoing regulatory revamp: all around the world governments are working out where they stand with blockchain and cryptocurrency, and working to protect their interests and that of their citizens.
Blockchain Central is your #1 trusted source for everything crypto. Our host Blu will guide you through weekly news about the political, legal and financial sides of crypto currencies like Bitcoin and Ethereum as well as recent developments in Blockchain technology, Initial Coin Offerings (ICOs), Initial Exchange Offerings (IEOs), Security Token Offerings (STOs) and new coins/tokens.
This content does neither represent financial, legal or tax advice, nor is it supposed to be understood or interpreted as solicitation to buy or sell any securities, coins or tokens!
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