Today, most companies in the market operate in offshore
. And, by and large, they have no future. Banks simply close their accounts
. Central banks forced commercial banks to refuse to work with firms engaged in cryptocurrency, especially if they are registered in offshores.
The market will be regulated and this is without options. But the question is how?
At the moment, governments, financial and tax authorities have clearly decided that the cryptocurrency market will be regulated. In the meantime, they inhibit its development and try to reduce their backlog from market development.
By and large, there are two approaches in solving the problem of market regulation:
But the problems of regulation of the market can also be divided into two components:
- Creating a separate legal framework.
- Alignment with the current legislative framework.
You can read more about:
- Regulation of cash flows, protection of the rights of investors and consumers, compliance with the AML rules - “Anti-Money laundering”. Plus, the solution of tax issues and the so-called deoffshorization that is gaining momentum, which has taken on a truly global scale.
To address these issues, the cryptocurrency market will be forced to fill into the framework of the current financial and tax legislation. And the form of an investment fund meets all these requirements and is an excellent form for attracting investors and working in a cryptocurrency market.
- Regulation of the blockchain technology itself. But so far no one is going to do this, but if in the future this happens, then most likely regulation will occur through the creation of a separate legislative framework.
It's high time to legalize! And registering a crypto fund in Europe is the best and the cheapest solution.