#CryptoRegulation What is cryptocurrency regulation?
Cryptocurrency regulations are the existing legal rules and guidelines issued by governments to regulate the functioning of digital assets, such as virtual currencies. These laws have diverse approaches depending on the country.
In the U.S., there are several states where some are friendly to market participants adopting cryptocurrencies with clear regulations, while others completely ban them.
Around 60% of American citizens distrust trading or investing in cryptocurrencies, as they believe that existing systems are unreliable or unsafe. One of the main reasons for this distrust could be the absence of a unique and coherent set of laws regulating cryptocurrencies.
Existing regulations cover everything from the creation and trading of cryptocurrencies to their interaction with traditional financial systems. Well-defined rules can benefit the cryptocurrency market in the following ways:
