Crypto currencies (Crypto assets) have captured the attention and imagination of a new generation of investors across the globe. Authorities around the world are trying to find the most appropriate way to regulate block chain and cryptocurrency markets.
There are over 18,000 cryptocurrencies in existence as of March 2022, some better known than others.
The first part of the word, ‘crypto’, means ‘hidden’ or ‘secret’ reflecting the secure technology used to record who owns what, and for making payments between users.The second part of the word, ‘currency,’ tells us the reason cryptocurrencies were designed in the first place: a type of electronic cash.But cryptocurrencies aren’t like the cash we carry. They exist electronically and use a peer-to-peer system. There is no central bank or government to manage the system or step in if something goes wrong.
Many countries are developing a solid legal framework to ESTABLISH a better control over crypto currency markets with strict KYC/AML norms, while other countries are trying to FORBID crypto currency exchange and any other relevant operations within the block chain tech industry.
Also many countries will soon implement crypto tax. Clarity on the subject of countries and the crypto tax to be awaited.
Non-fungible tokens (NFTs) are a special type of crypto asset that allows holders to prove their ownership of real or digital items.
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