Bitcoin Regulations

By Author: Foojack
Total Articles: 1
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Bitcoin allows money to be transfer online quick, secure, and without any third-party. Unlike bank, if you are transferring money to another country a third-party is needed. Bitcoin also helps to reduce the fee paid for the third-party, bitcoin only has a transaction fee which is a lot lower than the fee charged by the third-party. Bitcoin system is entirely peer-to-peer, traders will not get interrupt by any third-party. Bitcoin transfer very fast different from bank need 5 to 10 working days to transfer money from a country to another country.This make the hacker wants to scam you if they know you have bitcoin as it is very valuable. The Investor involves themselves in cryptocurrency due to its decentralize nature and this make scammed scam the investor easily and still will not take any punishment. Written by Bajapai (2019) country such as Russia, China and Vietnam have totally banned the use of Bitcoin. This is resulting of the nature of cryptocurrency which is decentralized can cause many illegal problems such as drug trafficking and illegal transaction. In addition, in 2017, Liang stated that China banned all the “Initial Coin Offering” related cryptocurrency because it is accused that “Initial Coin Offering” is a government unauthorised fundraising campaign. Since the “Initial Coin Offering” does not need to be approval by authority and cannot be controlled by the government.

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