Regulation of the cryptocurrency market

17 January 2023
Regulation of the cryptocurrency market

The governments of some countries have recently been so concerned about the impact of crypto assets on the economy that they are trying to develop and introduce restrictive laws and measures. Others, for example, Bermuda, make the support of cryptocurrency a priority goal of their domestic policy: from accepting payments to the budget in it to providing tax preferences to participants in the cryptocurrency market.

The digital asset market is still in its infancy compared to the stock market. It is actively developing: cryptocurrencies appear, blockchain projects appear, designed to make crypto payments faster and safer.

How is the AKRA token regulated?

AKRA is a token that is written in the SOLIDITY programming language and supports the most popular cryptocurrency standards ERC—20 for the Ethereum blockchain network and BEP-20 for the Binance Smart Chain. The AKRA token has many functions. It can be not only a means of payment or a condition for fulfilling a smart contract, but also a tool for passive earnings. PoS technology makes it possible for its owners to earn income on staking by simply placing a certain amount of cryptocurrency on their wallets for a fixed period.

Access to cryptocurrency will be open to almost everyone without restrictions. Only an e-wallet is required to complete the transaction, and standard closing documents are issued upon shipment. The more participants will use AKRA in their calculations, the higher the demand for this cryptocurrency will be, and the more expensive it will become. So purchases of goods, payment for services and subscriptions using our cryptocurrency can become real.

The prohibition of digital currency in individual countries will not be able to have a significant impact on its distribution. Users will still buy Bitcoin, Ethereum, AKRA, and other types of cryptocurrencies. Even if crypto exchanges are closed, it will still be possible to trade through guarantor services, the P2P system or bots. Some blockchain ecosystems will generally be an isolated Internet with decentralized storage, sites and other elements, so it will simply be impossible to turn them off. Therefore, the task of governments is not to ban cryptocurrencies, but to regulate the rules for their use so that all parties benefit.

Many countries are already taking positive steps, and their number will only increase in the near future. Digitalization of many areas of human life is growing, and only blockchain technology can make digital interaction transparent and safe. Therefore, an investment in AKRA is an investment in the asset of the future, which will come soon.

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