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Adoption of cryptocurrency into world Markets
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Cryptocurrency, the digital or virtual currency that uses cryptography for security, has gained
wide attention in recent times. The relinquishment of cryptocurrency into world requests has
been a content of important debate, with numerous governments taking different approaches
to regulating the use and trade of these currencies. This paper aims to estimate the part played
by different government regulations in the relinquishment of cryptocurrency into world
requests.
The first part of the research will focus on the definition of cryptocurrency, how cryptocurrency
emerged. This part will also explain the working of cryptocurrency such as mining, buying &
selling or storing of cryptocurrency coins. This part will also show a detailed view about the
problem that cryptocurrency was designed to solve along with its advantages and
disadvantages.
The second part of the research will focus on the impact on the change in transaction methods
from the traditional approach to a new approach using the adoption of cryptocurrency. By
analysing data on the growth of cryptocurrency markets, the study will also provide us with the
laws of different countries such as El Salvador, Dubai, USA, India, Canada, European Union
and Africa. This part of the research will also provide us role played by different government
authorities within their country to bring in a regulatory framework for cryptocurrency.
The final part of the research will provide an a legal analysis and recommendations that shall
be enforced throughout all countries so as to minimise the risk of customers and also make it a
cryptocurrency a legal tender that can be used around the world with minimum risk. The
research will provide valuable insights on how to approach the regulation of cryptocurrency in
the future.