Can us-based virtual commodity association advocate for crypto industry interests hedge fund blogs from hedgeco.net gas 02

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Globally, the cryptocurrency industry has been gaining traction. electricity 2014 In recent years, the technology that underlies digital currencies has been used to develop solutions across sectors. In marketing, platforms such as Noiz Chain and Qupon are facilitating interactive advertising and marketing of virtual coupons. URAllowance is enabling family interactions using smart contracts while ONe Network is improving security in social media in the social space.

At the beginning of this year, the cryptocurrency market experienced a crash whose impact the market is yet to recover to date. gas and water llc One of the factors that triggered the crash is regulatory uncertainty in the cryptocurrency space with impending crackdowns anticipated in countries such as China. With time, countries, as Malta Island and Abu Dhabi in the UAE, have taken steps to develop regulatory frameworks to guide the industry, but most countries have yet to do so.

To increase confidence in the cryptocurrency industry, self regulation is beginning to take shape. Earlier this year, industry players came together and formed a self regulatory organization called CryptoUK. The US is following this path too as several cryptocurrency exchanges, namely Bittrex, Gemini, bitFlyer USA and Bitstamp, have formed the Virtual Commodity Association (VCA). At the same time Blockchain Exchange Commission is pursuing a similar SRO to propel regulation.

While self regulatory organizations will play a key role in overseeing the growing cryptocurrency market in the US, questions arise regarding the issues that such organizations should focus on addressing. electricity song omd German Tanov, the co-founder/commercial chief at IOU holds that self regulatory organizations, such as VCA, need to advocate for the interest of cryptocurrency players.

He says, “VCA must lobby the interests of the blockchain community and developers in the world political arena. This opinion is due to the fact that at this point in time the political system is so arranged. And also the creation of a unified methodology for raising funds for small and medium-sized businesses through the initial coin offerings (ICOs).”

The lack of a comprehensive legal framework to guide cryptocurrency market operations has seen fraudsters flood the cryptocurrency space. gas delivery Innocent investors have lost millions of dollars in fake projects with more cash being lost through hacking incidents that target cryptocurrency exchanges. According to Raghav Reggie Jerath, CEO of Gath3r, cryptocurrency fraud should be among the key issues pursued by SROs.

He says, “The first issue should be to address the issue of fraudsters/pump and dump. There needs to be some level of regulation to prevent actual bad actors from fleecing folks for their hard-earned money. The current Reg CF/Reg D/Reg A, and IPO regulations make it too hard for a new company to crowdfund to a level that would benefit a new tech startup. This increases reliance on individual investors which goes against the decentralized nature of blockchain computing. 4 gases in the atmosphere besides oxygen and nitrogen New regulations need to be implemented that recognize the ease of token creation/distribution, allow for more individuals to invest how/when they want, and to protect them from bona fide bad actors.”