Crypto has rules too, and it is good to know them

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It is widely accepted that the crypto market is volatile and often this makes people think that everything in it is pure anarchy, without rules, without supervision and without regulation. This is not true , there are clear rules under which cryptocurrencies can be traded. Let’s take a look at what every trader needs to know.

Crypto has rules

Trading, selling and buying cryptocurrencies, or mining them, is established as a business. As a business it contains a set of rules that the trader needs to follow. Since digital currencies are still in their infancy and the regulations regarding them are still more or less taking shape, a framework may not have been created with them in mind. But it is still finance, so you need to be aware of money laundering and other policies regarding the handling of money. If a businessman is not sure, he can seek the help of a lawyer regarding the interpretation of the various laws.

However, it should be taken into account that regulation regarding cryptocurrencies has been developing over the last decade, when laws have driven away innovation. Thus, regulation can change a lot over time and what is the law today may not be true in a few years. It is therefore also important to keep an eye out for changes in laws and regulations in any potential business and adapt to the new wording if necessary.

It is for everyone

It should also be noted that although digital currencies are something completely new, it is not always just a group of enthusiasts that are in the industry. Bitcoin has broken the ice in this regard quite easily. Now, institutional investors and various companies are investing in it as well. The days when whoever owned Bitcoin was labelled a cult follower are long gone, but there is a balance to be struck between regulation and the freedom of cryptocurrencies.

The opportunity of knowledge

If you would like to dive into the crypto world and experience the freedom it offers, we can offer you a start with PlatonCoin (PLTC). Our cryptocurrency can offer you the best of the freedom of the blockchain while assuring you that your money is completely safe. If you’d like to learn more, feel free to contact us via e-mail or telephone.

Source: cointelegraph.com

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