Will Regulation Spark A New Crypto-Boom?

[mt-coinofficial]

Cryptocurrency is gaining attention from across the globe and even the government has understood the importance of digital currencies in the global financial market.  Cryptocurrency regulation is one of the biggest argument of the year 2017. Among the community of cryptocurrency, there is two contradicting group: Some cryptocurrency followers oppose the regulation of digital currencies whereas others see it as the only way to expand and control the volatile cryptomarket and firmly believes that this will help to substitute fiat currency.

Currently, cryptocurrency usages are limited due to its volatile nature but considering the pace at which cryptocurrency market is booming it will soon be a greater financial sphere and will require a strict regulation for security and safety of users.

Following are 4 major reasons for which the cryptocurrency market should be regulated:

1.     To make use of Cryptocurrency in Mainstream Business

It is not possible for the crypto economy to unlink it from the traditional economy, therefore, the value is set equivalent to dollars or other local currency.  Crypto coins should be incorporated into the financial system or make it centralized, which is not possible without imposing any regulations.

2.     To Protect Common People

Common people fear the unregulated market of cryptocurrencies, as it is not recognized by the government. Fearing the fraudsters and scams people are not using cryptocurrencies. However, the regulations and legalization of cryptocurrency will attract new investors.

3.    To Save from Fraudsters and Scams

Cryptocurrencies are very vulnerable and it can be manipulated easily. Making the crypto money taxable can be helpful because it can save common people from fraudsters, scammers, and shady firms who are looking out for a chance to make easy money.

4.     To Save from Volatile Market

As 60% of the mining power is concentrated among the top five mining pools, the crypto market gets totally dependent on a handful of the cryptocurrencies. Regulations on mining cryptocurrencies can help to protect the citizens from sudden changes in the prices.