The remarkable invention of Satoshi Nakamoto has polarized the financial world. The popularity and demand of the cryptocurrency are growing, and it’s no longer possible to ignore its presence in modern life. Governments of countries have to sound their position about new technologies and introduce new laws that would match changes.
And each country solves the issue of regulating cryptocurrency in their own way. For example, the Japanese authorities positively assessed trading of bitcoin and adopted legislation that legalized the cryptocurrency as a form of payment. This law protects Japanese citizens, as well as regulates and promotes free trade in digital currency.
In China, Bitcoin ban includes only banking institutions and their employees, which has not prevented the country from becoming the largest Bitcoin trading market. Although banks and their employees are prohibited from participating in crypto-business, as well as serving or cooperating with representatives of the Bitcoin industry. Trading in cryptocurrencies and mining is not prohibited for ordinary citizens.
In India, the Bitcoin Exchange (BTCXIndia) was the first to appear. This country has allowed bitcoin to take roots and create its own law, which helped to strengthen the cryptocurrency and growth the demand for it.
In contrast, the South Korean government announced intention which will block the possibility of trading crypto currencies in their country. Such a statement immediately had a negative impact on the value of Bitcoin, the currency lost about $ 2,000.
Bitcoin is still recovering from the double blow he received during January and February 2018, when for several days South Korea banned it and in India, it was declared as an “illegal way of payment” (although bitcoins are not recognized in the world as an official payment instrument).
Shortly thereafter, a new advertising policy was launched on Facebook. As a result, the international network will block commercial materials on the placement of primary tokens and binary options, as well as new cryptocurrencies.
Following the social network, Google also announced the changes in the rules of advertising campaigns in the financial sector. The changes will take effect from June 1, 2018, after which Google will begin to ban online advertising associated with crypto-currencies, ICO and such financial products as, for example, binary options.
The price of bitcoin fell from a peak at $ 19,783 (12/17/2017), to a minimum $ 7.178 per BTC, and recovered to a value just above $ 9,000, and then fell back to the lowest level. On average, the volume of daily operations decreased from 0.4 million, when the price was at the peak of slightly less than half, to 0.2 million. The last time that trading volumes were like this, bitcoin cost was about $ 500.
Nobody will deny that, at this stage, the cryptocurrency is an advanced solution for accepting payments and significantly expands the target audience of your business. Therefore, if you decide to start accepting cryptocurrencies on your website, you can always contact RegularPay and we will try to help you start or support your successful business.