Regulators in some countries more cryptocurrency-friendly

Posted 22 February, 2018

Cryptocurrency fell under massive selloffs in late January due to the risk of regulation tightening. At the same time, the situation has somewhat improved lately and demand for digital coins has started recovering.

Back in early February bitcoin changed hands below $6,000, though this week the leading cryptocurrency has been seen within $10,000-11,000.

More optimism came from the messages of the regulators in some countries concerning the issue on the future of the cryptocurrencies.

In particular, the Financial Service in Switzerland has posted a guideline for ICO. According to the country legislation, tokens are considered as a kind of securities.

The regulator in Singapore also believes that cryptocurrency is the technology of the future rather than a monster as other countries believe.

During the security conference in Munich, US cybersecurity coordinator noted that the White House is far from bitcoin regulation. In his speech, he highlighted the need for more careful study of the risks and advantages of cryptocurrencies before making any legal actions.

Notably, even Seoul seems to ease the policy towards cryptocurrency sector and looks into granting licenses to the crypto platform rather than blocking them.

It appears that the regulators are more concerned with illegal digital coin use and focus on investors' protection rather than restriction or ban on cryptocurrency.

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22 February, 2018 12:23

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