The country’s national security and defence council chief has announced plans to set up a working group that would think of ways to regulate crypto trading, especially in the light of some cyber security incidents happening in Ukraine in recent years.
Moreover, financial regulators across the world are looking at whether — and how — to regulate cryptocurrencies. South Korea plans to ban cryptocurrency trading, while China outlawed cryptocurrency exchanges in 2017. By contrast, Japan has regulated Bitcoin as a means of payment.
Cryptocurrencies are not regulated by central banks but are held digitally via electronic identities that in many cases allow the owners to remain anonymous. For most cryptocurrencies, transactions are logged on a public ledger.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now