Virtual currencies are out of legal control, which is certainly not on the hands of governments and central banks. This is a contentious issue between supporters of total freedom for virtual currencies and regulators. In Germany, this issue was solved quite efficiently. In turn, other countries do not want to accept bitcoin or other cryptocurrencies such as Russia. First, the state should understand and accept virtual currencies. Users of these currencies will not disappear, even if they are banned. The highest authorities who are looking for legal solutions know this well. The state should not regulate the law in such a way as to harm virtual currencies, because it will also harm itself in this way. If the law is set, but it is very strict against cryptocurrency users then they will find workarounds. The government will only lose on this, because aversion to virtual currencies exposes the weaknesses of the system and reduces public confidence. Instead of threat, it is worth seeing this innovation and listening to the voice of a growing group of users on regulatory issues.
The future of Bit Coin
The popularity of bitcoin converter virtual currencies is increasing because they are innovative and appeared unexpectedly causing a stir in the market. In the current situation, this sector can be expected to develop more than to collapse. In the coming years, there may be more stability due to the increased use of virtual currencies in payments, and the decrease in the strength of speculators. Countries and central banks are carefully watching the accelerating virtual currencies, many of them see them as a threat. It should be the other way round, the government or central bank that supports cryptocurrencies is an innovative government that adheres to the global trend. Virtual currencies are growing in strength and nothing will change that, only users who trust them can do it.