How to Regulate US crypto

in LeoFinance9 months ago

crypto regulation.png

Technology illustrations by Storyset

Enough has been said about how evil the crypto market is by the mainstream media. They say it is a scam, it's all fraud and no one should be investing in the market. But what if there was a way to fix all that with regulation, what would that look like?

Well, the vibrant and intelligent crypto influencer and enthusiast @cryptowendyo gives her 2 cents on the topic and explains how this would look like in her recent video on Youtube.

She first starts by outlining the positives, which is that we use a public blockchain, meaning everyone can see their transactions. This is how the space has been able to catch bad actors in the past.

Right now the American government is deep in-depth due to the pandemic, lockdowns and relief funding has had a big effect on the country. The best thing to do as a nation with oversight is to look at the countries that have policies that work and use their regulatory tactics (at least the ones that work) and implement them.

If more exchanges are willing to go through the hoops that the government places for them then the government can benefit from that. The Taxes from those who are registered to these exchanges can go back into funding the economy. It's not a fixed thing because as time goes on there will need to be updates made to these laws.

The effect of such innovative integrations usually leads to more involvement by younger generations especially when tax from this market is funding the educational sector.

The most important thing is to have a field in this market to thrive in and there will be a lot of progress as time goes by.

In my opinion, there are a lot of levels between the idea of regulating crypto this way and the actual regulation and having systems pay this way will also do the good of chasing a lot of bad actors away from space.

Let me know your thoughts in the comment section below I am interested in knowing what you think.

Also, hit me up if you need a crypto illustration done for you!!

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