{"id":3270,"date":"2022-01-27T17:03:40","date_gmt":"2022-01-27T15:03:40","guid":{"rendered":"https:\/\/prospectacy.com\/?p=3270"},"modified":"2023-03-16T09:13:59","modified_gmt":"2023-03-16T07:13:59","slug":"the-regulation-of-the-use-of-cryptocurrencies-is-necessary","status":"publish","type":"post","link":"https:\/\/prospectacy.com\/the-regulation-of-the-use-of-cryptocurrencies-is-necessary\/","title":{"rendered":"The Regulation of the use of Cryptocurrencies is Necessary"},"content":{"rendered":"
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Cryptocurrencies have infiltrated our financial vocabulary, leading even citizens who had never dealt with investments to devote part of their income to them.\u00a0<\/span>According to\u00a0<\/span>data from the International Monetary Fund<\/span><\/a>\u00a0(IMF), there are currently more than 8,000 active cryptocurrencies, with a total of $2.5 trillion in cryptocurrencies and coins being traded.<\/span><\/p>\n The first decentralized cryptocurrency, Bitcoin, was created in 2009 by Satoshi Nakamoto, a pseudonym believed to correspond to an anonymous developer or group of people.\u00a0It began as a libertarian vision, aiming to free the transfer of value and wealth from the control of banks and governments, giving control back to citizens.\u00a0This is based on the fact that the issuance of cryptocurrencies takes place without the intervention of any central bank.\u00a0The main advantage of digital currency technology is that it is decentralized – since it is not controlled by any central institution – and immutable, since all transactions are recorded on the blockchain and cannot be tampered with.<\/span><\/p>\n Cryptocurrencies are created by computers with complex mathematical equations, a process known as mining.\u00a0A network of computers around the world monitors transactions, using virtual addresses, hiding the identities of those engaged in the transactions.\u00a0Therefore, even if the police manage to identify any criminal activities behind the transactions, they have no way to freeze the accounts, as they would in a normal banking system.<\/span><\/div>\n