Question

Explain one reason why countries would seek to regulate or eliminate the use of cyber currencies.

Answer 1

One reason why the governments of various countries want to regulate the cryptocurrency because of the fact that the price volatility is very high where it is very difficult to understand the volatility of the prices due to the lack of inherent value on the whole and that is the reason why this can create a bubble in the economy and this is also described by Warren Buffett. however this can be offset by linking the currency to that of tangible or intangible assets but this need to be done and that is why the regulation is required by the governments and not elimination can also be the option where cyber security comes in as a major threat to the cryptocurrency where one can lose millions of dollars due to the evolving cyber crimes these days