Different attitudes can be taken between countries on the regulation of cryptocurrencies. The latest regulations to warmly welcome Bitcoin (BTC), Shiba Inu (SHIB) or other altcoins came from Kyrgyzstan and Vietnam.
Acceptance process begins for Bitcoin, SHIB and altcoins
Kyrgyzstan MP Karim Khanjeza on Wednesday recommended the Kyrgyz government to introduce its own cryptocurrency and legalize it for the people. He believes that the booming cryptocurrency market will offer opportunities for technological advancement in the country and recommends the creation of a crypto hub in Kyrgyzstan. In his statements during the day, Khanjeza said about the growing cryptocurrency market and its regulation by countries like India:
Nothing grows as fast as cryptocurrency. India has already announced that it will become a global hub for cryptocurrencies.
Also, the Deputy of Kyrgyzstan evaluated changes to the law to facilitate the process of creating and legalizing his own cryptocurrency. He also recommended the appointment of a competent government agency to oversee criminal activities and procedures. Another country that started research studies on cryptocurrencies was Vietnam. Deputy Prime Minister Le Minh Khai has invited Vietnam’s Ministry of Finance to get sighted to regulate Bitcoin and cryptocurrencies.
Vietnam begins preparations for cryptocurrency regulation
Vietnam’s deputy prime minister, Le Minh Khai, has directed the country’s finance ministry to prepare regulatory laws for cryptocurrencies. The management of cryptocurrencies has emerged as a hot topic in Vietnam among other countries. Legislating cryptocurrencies will not only incorporate the category into the country’s economic framework, but will also remove the risks of being exploited for illegal activities. For this, Vietnamese authorities were tasked with identifying different areas around the cryptocurrency category. These include research on the nature of cryptos and analysis on foreign experiences with cryptocurrencies.
By the way, according to a report published by Vietnam Net, which we quoted as Kriptokoin.com, the relationship of cryptocurrencies with fiat currency and physical assets is also a research that will shape crypto laws in Vietnam. noted as a subject.
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