Here at [blokt], you can stay up to date on how Governments & Regulations are affecting the crypto industry. [blokt] is a leader in cutting-edge cryptocurrency news, at the forefront of blockchain technology, bringing you the latest developments daily.
Bitcoin, cryptocurrencies, and blockchain technology are known for being decentralized, which means they operate without any central controlling party. This means they are free from the control of governments and regulations to a certain extent. But, while a Bitcoin transaction, for example, may not need the approval of a government or a centralized bank to occur, the crypto industry isn’t completely immune from the power that these entities wield.
The crypto industry has the potential to disrupt the financial world as we know it, along with many other sectors. Cryptocurrencies could compete with fiat currencies, potentially taking some power away from governments. All in all, there will be winners and losers upon the rise and success of the industry. And those in power will do what they can to protect their interests.
Various governments around the world have either banned cryptocurrencies or put in place strong regulations that severely restrict their use. Whereas, other countries have embraced the industry and put in place crypto-friendly regulations that help to foster innovation. In 2018, Malta put in place three supportive Bills that regulate blockchain and provide legal certainty. In 2019, US President Donald Trump tweeted that he was “not a fan of Bitcoin and other Cryptocurrencies,” and China announced that it plans to ban cryptocurrency mining.
Each of these events can shape the industry as a whole and influence how it develops with the potential for far-reaching positive or adverse effects. New information relating to governments or regulations in the crypto industry can also be price-sensitive, serving to either help or hurt speculators and investors in the space. That’s why our journalists at [blokt] always report on all the latest government & regulation news in a timely manner.