Should Cryptocurrency be Legalised?

Question

Since cryptocurrencies are an outstanding financial system free from government intervention, no matter how much amount you wish to trade in, I am from the UK and I wonder if cryptocurrency should be legalised in other countries or not.

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James Wayne 1 month 1 Answer 40 views 0

Answer ( 1 )

  1. Summary: The answer to the question is yet not sorted whether it should be legalised or not. Since the governments of various countries have made it legal, there are still who haven’t. The reason being the risks of fraud associated with it. With increased cyber crimes it might pose a threat and which is why many governments are yet to legalise it.

    This very question is being debated by several countries right now. However, the major consensus among many is that cryptocurrency trading is a widely unregulated market, therefore, for the time being, everyone should proceed with caution.

    Meanwhile, several institutions are shying away from having anything to do with virtual currency. As you might be aware that Facebook has shunned any adverts pertaining to cryptocurrency on its platform.

    The Bank Of America along with JP Morgan and Citigroup has banned the use of their credit cards for Virtual Coin purchase.

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