The term regulation is increasingly used in the crypto world. Following the gradual regulation of cryptocurrencies in Germany, the United States, China, Turkey, and South Korea, Sweden has recently joined. The central bank of this state thinks that Bitcoin will soon be completely regulated precisely due to the massive interest in Bitcoin and other altcoins.
The concept of cryptocurrencies has probably not pleased any of the world’s central banks, and instead, several countries are working on their own central digital currency. It is so interesting to follow the current situation, as many countries are fighting against cryptocurrencies, but their technology has inspired almost all the countries mentioned. After all, it is completely natural, as we have a digital age that will only improve. The situation was also explained to us a little more directly by the Governor of the Swedish Central Bank RIksbank, Stefan Ingves, who commented as follows:
“When something gets big enough, things like consumer interests and money laundering come into play, — So there’s good reason to believe that [regulation] will happen.”
As far as specific countries are concerned, we have recently seen the greatest interest in regulation, especially in the countries of Asia, specifically in China or South Korea, but also in the countries mentioned above. The Chinese Council of State has only recently decided that it wants to take action against bitcoin as well as its mining, as confirmed by an official government document from a recent meeting.