According to a report featured in the Library of Congress , one of the most common actions that were identified in 130 surveyed jurisdictions was government-issued notices about the pitfalls of investing in the cryptocurrency markets. It was made clear that cryptocurrencies are prone to high volatility and that was even made worse by the fact that most of the crypto organizations were unregulated. Citizens are therefore left on their own and in case of any issue, there is no legal recourse available to them. The report also added that various countries issued warnings that cryptocurrencies created a loophole for illegal activities such as terrorism and money laundering. Banks and other financial institutions are therefore required to conduct due diligence requirements as imposed under the law. For example, Canada and Australia have enacted laws that have brought cryptocurrency under money laundering and counter-terrorist financing laws. Countries such as Bolivia, Nepa...
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