The development of cryptocurrency will be more standardized

Shortly after the US third hearing on cryptocurrencies, the European Union released a report on cryptocurrency.Topic: "Cryptographic Currency and Blockchain: Legal Background and Impact on Financial Crimes, Money Laundering and Tax Evasion." The EU’s release of this report at this time has the obvious result that, like the United States, it highlights their emphasis on cryptocurrency value.At this point, it is a very positive attitude. That is to say, the new economic situation, or the new things, should be taken seriously, not inaction.


Although both meetings saw an emphasis on cryptocurrencies, the focus of the two meetings was different. The European Parliament reflects more of a defense, the focus of which is to address the anonymity of cryptocurrencies. Make cryptocurrency transactions visible and can be monitored. Prevent the occurrence of tax evasion and prevent money laundering.


With regulation, the price of the cryptocurrency will become relatively stable, and the price of some cryptocurrency that was previously optimistic will rise. For example, the ltc coin future value may exceed the present.

The content of the US Congress study is indeed more abundant. Monitoring of cryptocurrencies remains the subject. But the United States has also shown partial support for cryptocurrencies. Make a distinction between tokens and coins, determine the attributes of the cryptocurrency, and then promote legislation for different attributes and clarify specific regulatory agencies. Of course, the problems that arise in the development of cryptocurrencies are also discussed. For example, the ICO scam, the issue of ownership in the process of supervision.


However, the current situation can only be a beginning. Whether the cryptocurrency will eventually become a currency or whether it will become an investment and wealth management product remains to be studied.


But surely, the development of cryptocurrencies will be more standardized. But more deviate from the previous understanding. Anonymity will become transparent through the mandatory nature of the law. "Decentralization" will cause the payment of trust drawbacks.At present, both the United States and the European Union have expressed their views on cryptocurrencies, but what is China’s attitude as the world’s second largest economy? let us wait and see.

Current ethereum to usd exchange is:456.43$.(01:10, July 21, 2018)

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