What is Bitcoin?
Bitcoin is an online currency and a new kind of money. It can be used to pay for things electronically and, like cash, it’s very difficult to trace who owns them or what you buy with them. It’s very volatile in its price and can often be used for illegal activities. It doesn’t have much use by mainstream society, but that doesn’t mean it is without value – after all, you could always trade it for the traditional currencies like US dollars or Euro. If a government decides to become more Draconian with physical currency, Bitcoin could easily take over as the country’s main currency.
It is also a way to give power back to the people. There was a time when everyone had to submit to the rule of kings, and then it was merchants in business suits who dominated politics. But now we live in a democracy, where we have local councils and state governments to vote for. You don’t need anyone’s permission or a king’s signature to buy public land for your house or construction materials for your building site.
But there is no real democracy left – our political system has been hijacked by corporations and extremely rich individuals that own most of our media outlets as well as most government bodies like the Federal Reserve and the CIA.
President Alexander Lukashenko signed another decree regulating the cryptocurrency economy in Belarus. It envisages creating a registry for cryptocurrency wallets and addresses some of the legal aspects related to cryptocurrency trading in the country.
A presidential decree aims to prevent cryptocurrency wallets from being used in criminal activities
Belarusian President Alexander Lukashenko has signed a new decree that expands the country's regulatory framework for cryptocurrencies. The move will allow Belarus High-Tech Park (HTP), which oversees the country's crypto space, to create a registry of crypto-wallet addresses that can or may be used for illicit purposes.
The stated goal is to “protect digital asset market participants from property loss and prevent unintended involvement in activities prohibited by law,” the president’s press service said in an announcement.
Cryptocurrency list
Expect continued talks about cryptocurrency regulation. US officials have taken a special interest in regulating stable coins.
Lawmakers in Washington DC and around the world are trying to figure out how to put in place laws and guidelines to make cryptocurrency safer for investors and less attractive to cybercriminals.
“Regulation is probably one of the biggest in the crypto industry globally,” says Jeffrey Wang, president of the Americas at Amber Group, a Canada-based crypto finance company. "We very much welcome the clear regulation."
Federal Reserve Chairman Jerome Powell recently said he has “no intention” of banning cryptocurrency in the United States, while Chairman of the Security and Exchange Commission Gary Gensler has been commenting on the role of his agency and the CFTC in monitoring the industry.
Gensler recently went so far as to say that investors are "likely to get hurt" if stricter legislation is not introduced. Additionally, the IRS has a clear interest in making sure that investors know how to report virtual currency when filing their taxes. Gensler and Powell's comments echo the emerging view among the Biden administration and other US lawmakers that more regulation of cryptocurrency is needed.
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