Cryptocurrency

Regulation required for the cryptocurrency sector: says the CEO of Bitcoin ATM.

In the modern times, the speculation is going on about the manner in which regulation has been affecting virtual currency. According to the CEO of the Bitcoin ATM, it is absolutely necessary for the appropriate regulation in the sector of digital currency. Coinsource has recently installed 17 new Bitcoin ATMs, the owner of Coinsource, Sheffield Clark has stated that Bitcoin is not the answer the payment system is looking for right now. A major reason for Clark stating that virtual currency is not the suitable method for the payment system is the time taken by it to carry out the operations in the sector. Moreover, Clark also went onto point out that BTC is used for the purpose of speculative investment or for the sake of other kinds of virtual currencies.

Clark has also gone onto point out that a major hindrance in the path of the different virtual currencies is the volatile nature of the various digital currencies. This nature of the sector does not contribute positively to the lives of those who have turned to cryptocurrency. A lot of thought is required to be put in the manner in which the section of virtual currency and its regulations stand to affect the whole economic system. Like several other people in the market, he believes that things need to be changed by adding more regulation in the sector and only if regulation is improved can there be a chance at a better tomorrow for the sector of virtual currency. Skepticism of  Clark stems from the need of the market to decrease the volatility that has been rendering it a negative perception from the various sectors in the economy. Clark also mentions that the banks can go onto taking unfair advantage of the roles they play in the sector of cryptocurrency, and hence, it is better to put in place the regulations that can keep the activities in check.

Kavya Lakhani

Kavya is one of the integral members of the CryptoNewsZ Journalists team. She manages the team of correspondents and researches for the platform. She holds a master degree in Journalism and has cryptocurrency trading experience as well. She constantly follows the cryptocurrency ecosystem with a passion for decentralized fin-tech.You can also mail her at [email protected] to discuss anything related to her reports.
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