2017 was the year in which people took a keen interest in cryptocurrencies and their impact on the world’s economy. However, this increase in interest seems to have caught governments’ eyes across the globe, and government agencies are trying to find ways in which they can control the sector. As such, there has been a change in the way countries are dealing with these currencies. Where some nations are welcoming the ideas, others are carefully analyzing the situation in a bid to make the right decision, and some are adamant in their opposition to these currencies. Here is an overview as to where things stand at present.
Government agencies are yet to come up with ways in which they can oversee the sector without scaring off investors. With some form of control, they can monitor criminal activities on such sites in a bid to protect their citizens. However, the question that comes to users’ minds is how this oversight will affect their privacy in trades, given that confidentiality is one of the biggest motivators behind cryptocurrencies.