Southern New Hampshire University
Global Dimensions in Business
Crypto Currencies
INT-220
There are different ways governments influence any
industry through legislation and they affect the business and
industry by intervening for restrictions and controlling the trade.
This is necessary because if they don’t take control, it would take
things out of hands and there would be no policies and
regulations for any industry in the long run. That’s why the
government needs to step up and take control of these issues. For
example, there is a hot debate about crypto currencies being held
for legislations and regulations to keep under control by the
governments from various countries. This has been happening
for years now and it's still so controversial that everyone has
handed it over but there are so many restrictions that it's still not
for everyone. This is due to the fact that crypto currency is the
trade medium which is not traceable and doesn’t require any
intermediary for the trade or for handling it. That's why
governments are concerned about the banking system and
intermediary control. This is a valid reason for the government to
think about controlling the economy . That is due to the fact that
they control the banking system in their countries. Another fact is
that it’s a platform to do illegal actions as well that is also not
possible to keep track of. So, if they move on to crypto currency
then it will be harder to keep the track of correct and legal
transactions from illegal ones.
Bitcoin is the biggest coin of investment and medium to trade
with USDT and therefore it’s the biggest organization which bears the
risk of impact if governments keep restricting the crypto trading and
that goes without saying this will also affect the price of commodities
as well. This happens because when a person trades the crypto, there
are no me diaries in the same country to get ahold of money or that
transaction. Like in America has always kept its agencies on crypto
trading like financial crime enforcement networks to keep the track of
activities. Similarly, Europe has policies about the crypto currencies
issuance and to keep the track they have to keep the issuer as a legal
entity. These are the cases which impact the users as well as the
industry itself by getting the restrictions and even sometimes get
banned.
