Industry Regulation

Abstract

Various types of financial businesses and services developed around cryptocurrencies provide the financial system necessary for the development of the Web3 World.At present, it seems that only El Salvador and the Central African Republic recognize Bitcoin as legal tender. Even though many countries still do not recognize Bitcoin or other forms of cryptocurrency and award them the fiat currency status, they do not restrict the uses or trading of cryptocurrencies. In many instances, cryptocurrencies are also being considered as a legitimate asset…