Cryptocurrency is not protected by law

uptrendfinancialsignal

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• Mar 12, 2024

• #1

Cryptocurrency is not protected by law and that is why there is a lot of regulatory uncertainty. A typical example is the court judgment given in China and it doesn't not recognize cryptocurrency because the crypto regulation is unclear and that is why it is needed to have a regulatory framework for cryptocurrency in the future.

 

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Ratine

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• Mar 13, 2024

• #2

There are so many countries in the world that had rejected the endorsement and use of the crypto currency due to the various irregularities that are encountered on the systems.

 

eldavis

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• Mar 14, 2024

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This is also one of the major reasons why most countries are still reluctant to allow crypto currency. They are very much aware they have little to no power in terms of controlling it.

 

flower

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• Mar 21, 2024

• #4

There is lack of regulatory framework in cryptocurrency ecosystem and that is why the government kicked against it and they are trying to look for way around the regulatory issues .

 

nomad

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• Mar 24, 2024

• #5

Yes, crypto is not protected by law and crypto can never be protected by law because it is basically decentralized asset. However, government can of course regulate crypto companies and implement laws.

 

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timewo

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• Mar 30, 2024

• #6

Yes, actually some of the largest crypto exchanges in some countries are openly looting their customers, robbing small amounts of crypto from them, giving the fake excuse of prevention of money laundering.

 

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ekta

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• Apr 1, 2024

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Cryptocurrency lacks legal protection primarily due to its decentralized nature, which operates outside the traditional regulatory framework. This absence of legal backing exposes investors to higher risks of fraud, theft, and market manipulation, without recourse to established legal mechanisms for restitution or protection.

 

Suba

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• Apr 10, 2024

• #8

If there is regulatory crypto, the anonymous nature of crypto will disappear, even though crypto is actually starting to be controlled indirectly through crypto exchanges, where users require KYC before using the platform. If there are rules then prices can also be controlled like fiat currency during inflation.