Future of Crypto Regulation

The read more U.S. falls behind the EU, other countries, and is still struggling to establish a unified framework that covers digital assets. Despite all this, the SEC wishes to be involved with crypto regulation, but the Congress hasn't given it the authority. A bipartisan proposal to give jurisdiction to the SEC, CFTC is in process. However, it is likely to take at least one year for it to become law.

Blockchain

Blockchain is a distributed digital blockchain that records transactions across multiple computer systems. Every transaction is available to all participants. This immutable record is secured by a cryptographic signing, also known as an hash. It is a series of special algorithms. This creates a chain where any attempt to alter one block would be immediately apparent. To change the chain's integrity, a hacker will need to change each block in every version.

It isn't just about startups; it also affects large corporations. Currently, 83 countries are experimenting with Central Bank Digital Currencies, which represent 90% of global GDP. China, for instance, has prohibited the mining of decentralized cryptocurrencies and has given digital yuan thedailyhodl.io/ (digital currency) to its citizens. India, on the contrary, isn't sure how to tax cryptocurrencies. Its central bank has been testing out its own CBDC in order to satisfy the demand for a regulated cryptocurrency.

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