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Ify Egede
Jun 8, 2022
by Ify Egede

Bitcoin Will Benefit From Clear Crypto Regulations: Michael Saylor

Bitcoin Michael Saylor
The crypto community is filled with news about the first crypto bill in the United States. The US has been on the fence regarding crypto regulations. However, a bipartisan bill is ready to add crypto to the country's financial system. Reacting to the news, the CEO of MicroStrategy, Michael Saylor, applauded the report of a regulation. The flagship crypto, bitcoin, needs precise regulation to thrive, according to Michael Saylor. Traditional banks, institutional investors, and public companies can invest in the crypto industry when this happens.

Benefits of Clear Regulation For Bitcoin And Crypto

According to a senior executive at SEBA bank, Christian Borel, precise regulation will increase crypto adoption. Furthermore, the sector has faced several issues of scams and frauds in recent months. Hence, investors are afraid to put their money in for fear of losing everything. A clear regulation will help curb the incidence of fraud in the sector. Also, it will protect the rights and funds of investors.

Officials Call for Clear Regulation For Bitcoin 

At the moment, there is no clear regulation guiding the crypto sector in different countries. As a result, this has reduced the rate of adoption. In addition, financial institutions are unable to offer crypto services to clients. This is due to the absence of a regulatory framework for the financial asset. Meanwhile, regulators in Europe are calling for a uniform regulation for crypto. They believe the disparity in guidelines will lead to confusion in the sector. The United States has taken a huge step to release regulations for cryptocurrency. Although the full details of the bill have not been released, the crypto community hopes for the best.

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Bitcoin Will Benefit From Clear Crypto Regulations: Michael Saylor
Ify Egede
Ify is an experienced and versatile writer and researcher. He has have keen interest in blockchain technology, Bitcoin, cryptocurrencies, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.

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