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Cryptocurrency is a type of digital currency that generally exists only electronically. You usually use your phone, computer, or a cryptocurrency ATM to buy cryptocurrency. Bitcoin and Ether are well-known cryptocurrencies, but there are many different cryptocurrencies, and new ones keep being created. Global call for rules cryptocurrencies ©2023 Global Trade. All rights reserved.
The SEC chair has been called back to the Hill after a summer packed with unprecedented enforcement actions against actors in the crypto industry. Select an option to continue The prices of Bitcoin and many other cryptocurrencies vary based on global supply and demand. However, the values of some cryptocurrencies are fixed because they are backed by other assets, thus earning them the name “stablecoins.” While these coins tend to claim a peg to a traditional currency, such as $1 per coin, many such currencies were knocked from their pegs during a spate of volatility in 2022.
India has advocated for a global crypto framework for years despite its own crypto ecosystem still lacking a clear regulatory framework and simpler taxation. CHECK THESE OUT The main aims of MiCA are industry regulation, consumer protection1, prevention of market abuse and upholding the integrity of crypto markets. Under MiCA, consumers will be “better informed about risks, costs and charges” of dealing with crypto-assets, and the Regulation will also “support market integrity and financial stability by regulating public offers of crypto-assets”, as well as introducing measures to tackle market manipulation and prevent money laundering, terrorist financing and other criminal activity.
The Financial Stability Board (FSB), headquartered in Switzerland, released recommendations in October last year for creating a regulatory framework, stating that crypto assets should also be subject to regulations for commercial bank activities. The FSB plans to announce its final version of the framework in July this year. What To Know About Cryptocurrency We explain the economics behind the rise and fall of FTX. We view FTX and its associates as components making up one large entity: a crypto conglomerate. Understanding the economics of crypto conglomerates is crucial for designing effective regulations.
