Last year, cryptocurrency fever was able to enrich some users, forcing the whole world to talk about the blockchain and digital assets. Investors are interested not only in bitcoin news but also in the prospects for its development and growth in the current and future years. The fall in February was a shock for many people, so now the expectations are less ambitious.
The activity of market players makes bitcoin quite a volatile cryptocurrency. Periods of rapid growth are replaced by more relaxed. Analysts use the entire set of tools for analysis, monitor technical indicators to see the prospects for growth or decrease. Many experts talk about the need for a law on cryptocurrency, which will deal with the regulation of this important part of the market.
The bitcoin news feed has long been replete with reports that there is a need to adopt laws on cryptocurrency. This is true in any state. The state should be interested in legalization since the emergence of more and more new types of currencies makes it impossible to control or regulate this market segment.
Russia is included in the FATF - a group fighting against money laundering, and all virtual currencies often appear in such crimes. Cryptocurrency is characterized by anonymity and the lack of a single centre. These are risk factors for illegal use of the blockchain system. Legalization will ensure control of what is happening with money, as well as reducing the influence of the black market.
The law should serve to determine the legal status of bitcoins and other units. At the moment it is absent, so the control is very difficult from a legal point of view. The status of the coin and all other cryptocurrencies that appeared after it has not been determined, but there are a number of options. Digital money is seen as equal to financial assets in order to manage it exclusively within the framework of a regulated exchange, which interacts with the Central Bank. Use will be freely prohibited, and individuals will not be able to use their own assets. The market will develop at times slower.
Live bitcoin news often tells that the law on cryptocurrency will protect the market participants. The exploitation of coins is now a risky process for all participants in transactions. The network does not control the transaction, which led to the emergence of a large number of scammers. The anonymity of transactions does not allow finding those guilty of theft. There is a similar situation with the exchanges, which contain wallets with coins of many participants. If something happens to the money, users will not be able to count on receiving compensation or a refund from the owner of the resource, because it is not stipulated by law.
BBC bitcoin news often says that the legal definition of bitcoin may well be an obstacle to money laundering. Anonymity and secrecy of the system do not allow making transactions transparently. With the legal implementation of transactions can provide partial control.
Another challenge is the licensing of cryptocurrency and their taxation. Nobody pays taxes on funds received this way. Due to this, the country's budget loses significant amounts of income. The use of cryptomoney is considered illegal, as it often involves financial fraud, and this increases the risk of mining and receiving funds by other means. In the news feed bitcoin more than once will emerge various points related to this.