Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without relying on banks or governments. It offers fast, secure, and borderless payments.
Understanding Tariffs
Tariffs are taxes imposed by governments on imported or exported goods. They are used to protect domestic industries and generate revenue.
Bitcoin's Role in Bypassing Tariffs
Since Bitcoin operates outside traditional financial systems, it can be used in international trade to potentially avoid tariffs. This raises concerns about regulation and compliance.
The Need for Regulation
Governments may introduce stricter crypto regulations to prevent tariff evasion while promoting fair and transparent global trade.