Insufficient compliance

Most nations' biggest problem with cryptocurrencies is their inability to control them.

Despite their great potential, legislators and regulators are wary about cryptocurrencies. One reason is that they are frequently used to produce and transmit significant quantities of money in the internet's "grey zone," so avoiding taxation. As a result, authorities are refusing to promote cryptocurrencies in order to avoid difficult legal complications.

As a result, investors are wary of entering this market due to worries about client due diligence, anti-money laundering regulations, and other difficulties related to the pseudonymous nature of cryptocurrencies.

Last updated