The term cryptocurrencies or Bitcoin’s origin are increasingly on the lips of many more people; perhaps many considered the idea of investing in these assets a couple of years ago as a kind of scam or absolute risk.
Risks can be controlled
Today they are the salvation of the savings of many people who disposed of their small or large capital in assets utterly different from the traditional ones, where operations are decentralized and without the intervention of third parties who intend to benefit from them.
Society today has been adapting to technological changes and constant evolution in terms of socioeconomic information. People also want to invest and obtain returns that lead to financial freedom unattainable for many before.
What is certain is that this decentralized mobilization of capital has caused discomfort both in financial entities and government institutions.
Many financial interests are put at risk after being unable to control this money that escapes fiscal and tax supervision and withholding.
The turbulence that BITCOIN and the other digital currencies have experienced during this first half of the year has not been fruitful; on the contrary, many affected users have decided to withdraw their digital assets through the desperation of losing everything in a massive sale.
Cryptocurrencies have become stronger over time, in addition to their introduction to the traditional financial market through Bitcoin ETFs, further consolidating them in the world financial system.
The support institutions such as Goldman Sachs have granted, in search of a diversification of their client and service portfolios, where the amplification of credit services leveraged to this type of digital currency is attractive to many.
We may be facing a stage where companies, individuals, and private, public, and government financial entities are against cryptocurrencies. Still, these are the absolute representation of the future of currencies.
A regulation coming soon
The best way to create a market where the confluence of digital and traditional currencies takes place naturally is through regulating these digital assets, creating a certain level of security in your future investments.
Let’s thoroughly evaluate the impact of digital currencies and why countries want to control them. It will always lead us to the fact that the latter do not share the idea that significant sums of money are not reinserted and used by the country in the form of taxes.
It seems to be a movement attracting the attention of the countries with the most excellent use and adoption of cryptocurrencies, where their desire to control and maintain the protection of circulating assets is paramount.
The project, which is just in the process of being created, emerges as a bipartisan proposal where the strategic point is to integrate the use of digital assets with the traditional financial market.
The classification of digital assets, the tax control process, its possible charges, and the regulatory entities are some aspects that will be part of the project.
Critical elements will also be the regulation of mining and the various strategies for protecting cryptocurrency users.
In a said draft, it is established that the entities in charge of regulating, controlling, and supervising digital assets would be the Commodity Futures Commission and, of course, the Securities and Exchange Commission.
The rules established for regulating transactions through exchange platforms would have a completely different law than the one regulating mining.
The proposal is expected to be presented in Washington in the first days of June, with great expectations that it can be approved in the face of a critical situation that digital currencies are experiencing.
Of course, this approval would be executed for the year 2023, where the adoption of digital assets, even with their current situation, may increase significantly.
We are facing a relatively complex economic and financial scenario, where cryptocurrencies, according to aspects of the creators of this type of project, are usually considered risky not only because of their volatility but also because of the possible scams that can be generated around them.
Conclusion
An endless number of factors push for regulation of this type of financial element of a market that, although it seems new, has a trajectory of almost 14 years where trials and errors have shaped it.
Users are the leading players in this market since they have positioned the various types of cryptographic projects; in a nutshell, they are only concerned with a possible regulation since they are the primary beneficiaries.
