Treasury to regulate Cryptocurrency

Cryptocurrency, made famous by BitCoin, has been the wild west. Those days are ending. It has proven that it is here to stay, and so has come under the radar of the government and the financial industry.

According to Francesca Washtell, of City A.M., (Treasury planning crackdown on bitcoin and cryptocurrency anonymity in bid to tackle criminal use of digital currencies, 10 April 2016), “Bitcoins and other virtual currencies,” will no longer be available for anonymous purchase. The proposed regulation, “which the Treasury is preparing to introduce next year, … would require providers of bitcoins and other virtual currencies to check the identity and address of customers,” she writes.

This may nick the desirability and price of these cryptocurrencies, which have apparently been benefiting from anonymous transactions, but it will only serve to enhance the popularity of OneCoin -the fastest growing of them all and presently number two behind BitCoin. OneCoin already requires proof of identity, and has been for a year. The new law will only serve to spur its progress. It won’t be long before OneCoin is the NumberOne coin!

Read more about OneCoin here.

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About icliks

Biding my time in central ms ... yours too, if ur reading this.
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1 Response to Treasury to regulate Cryptocurrency

  1. Pingback: The Language of Cryptocurrency | Icliks Incoming

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