In a worldwide environment where privacy is constantly under threat, purchase of cryptocurrencies is not an exception.
Representing one of the world's biggest Bitcoin exchanges where cryptocurrencies have gained popularity among national investors along the course of the years, has recently banned anonymous trading of cryptocurrencies and requires the subjected entities to verify their customers properly.
The meeting then set a firm deadline to July for providing recommendations on how to regulate cryptocurrencies globally.
The implementation of these regulations have also been encouraged by the International Monetary Fund, whose head Christine Lagarde recognizes the potential of the Blockchain technology and praises the work of FATF as "Useful guidance to countries on how to deal with cryptocurrencies and other electronic assets."
1) peer to peer trading platforms that allow users to trade Bitcoins for traditional currencies through person-to-person trades.
2) decentralized exchanges built into Bitcoin wallets that help to arrange local trades between buyers and sellers.
Mycelium Local Trader help arrange the trade between buyers and sellers, manage the transaction, and calculate reputation ratings based on the trades.
In addition to online platforms, Bitcoin ATMs allow a person to exchange Bitcoins and cash.
Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the redemption of Bitcoin for cash.
As a result, in the short term, it could be expected that national and international authorities would strengthen further the regulatory framework around exchange platforms and cryptocurrencies trading.
How Anonymous Is the Purchase of Crypto? Regulations, Practice, Risks
gepubliceerd op Apr 9, 2018
by Cointele | gepubliceerd op Coinage
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