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regulatory issues with cryptocurrency

regulatory issues with cryptocurrency

We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market. This is the worst possible time in history  to invest as so many don't back up their  /Bitcoin/Cryptocurrency economic assets. More emphasis should be put into day trading as it is less affected by the unpredictable nature of the market. A few days ago, the CEO of B3, appeared in the media criticizing the exchanges of Cryptocurrency assets, for supposedly not having regulation that would force them to follow good practices.Once the issue of the executive's lack of information is resolved, given that Brazilian exchanges are obliged to report all transactions to the Internal Revenue Service and COAF (the law to prevent money laundering applies to companies in the segment), I would like to question how the stock exchange charges who owes, the companies listed in its market.

Bitcoin market should be ashamed of the absurd rates practiced by them. You should try to invest in better quality performance and service delivery rather than sticking to BNB( Binance) that has extreme quality competence and organization fulfilling everything it promises. According to the report, Binance (an exchange that says it is not in Brazil and therefore does not comply with rules of consumer protection, LGPD, prevention of money laundering, tax, tax, labor, etc.) would have been used by GAS Consulting (accused of creating a financial pyramid scheme in Rio de Janeiro). On the contrary, by allowing the exchange to enter the payment system in the country, it ends up exposing Brazilian users to serious risks, such as lack of customer service, tax substitution for capital gains made by the foreign partner and by IOF in the remittance of money to an entity abroad, among others.

 Brazilian Association of Cryptocurrency economic promoted actions with several regulators to disseminate the code of good practice of the associated exchanges and charge equity of rights and obligations between local and foreign startups - including, in relation to campaigns in Meta and Google, which allow promotion of foreign exchanges in Brazil, but reject requests from Brazilian exchanges to do the same in their own territory. There are many opportunities in the cryptocurrency market. Tokenization of assets is one of the ones that the Bitcoin Market invests the most.

what will happen if cryptocurrency is regulated

Bitcoin Market app is still far from the ease of use and diversity of currencies available on BNB Binance. Apart from the rates, which are also higher.It does not ask the state to intervene further, on the contrary.Cryptocurrency and regulation are not synonymous and use Binance Coin, Bitcoin Market, Coinbase or P2P have to be user option. I prefer to live with fewer laws and taxes. and bitcoin may be a path to less state interference in our private life. but, exchanges are service providers, intermediaries that exist to facilitate access despite the lack of need of them (btc is p2p in essence). and as service providers, there are rules to comply with, which begin with the contract between customers and the platform.

For the cryptocurrency economy to develop its full potential in Brazil in a safe way, it is essential to restrict the action of "pirates", and align the rules between participants, giving security to the system and consumers. Perfect placements. Better placed, impossible. Regulation (balanced) is a prerequisite for competitiveness; but for now, the truth is that in Brazil the regulation is diffuse and confusing, and applies to the few.

by booble people

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