The World Economic Forum has announced it’s assembling a firm of experts from both the public and the private sectors to assist in developing cryptocurrency guidance and regulation.
Cryptocurrency Is Getting Global Support
The organization will be made up of central bankers, entrepreneurs, blockchain analysts and others who will seek to utilize their knowledge of cryptocurrency trading to establish lasting legislation.
Interestingly, reactions to the news have been divided, with some claiming that the move is a powerful first step towards bringing crypto closer to mainstream territory. Others say it’s likely to present even more problems down the line.
One fan of the initiative is Mark Williams, a professor who teaches fintech at Boston University. He explained:
This announcement is a further indication that the economic elites are no longer ignoring the innovation behind cryptocurrencies and blockchain technology.
However, some have stated that the firm could potentially bring even more confusion to the already convoluted world of crypto regulation. Digital currencies are regulated differently depending on where they are used. Each country has its own rules, and it’s up to the trader to understand those rules and how they apply before they engage with any crypto trading platform. Read More...