The United States (US) despite stumbling in crypto regulation last year is still one of the globe’s leaders in the trade of Bitcoin and various other cryptocurrencies.
Whenever new technological innovations or industries emerge, it takes a very long time to regulate them the cryptocurrency sector faced a similar situation.
Initially, the industry was criticized for the lack of transparency it showed in its trading techniques. Only a small minority of people knew the functioning of the blockchain so it made it incredibly difficult to regulate.
Furthermore, the country’s watchdogs were incredibly slow at working towards its regulation and hardly kept the public advertise.
However, looking in the details and through comparing with other legislation, it is evident that the crypto regulation in the United States is much more practical than other countries. Furthermore, many countries were previously accused of faking their token trading volume.
In a statistical report, it was shown that around 30% of the world’s Bitcoin trade is done through US crypto exchanges. US exchanges boast a trading volume second only to Malta itself.
However, the report noted that exchanges too fake trading volumes to appear higher in ranking in order to attract more investors. This is evident through the stable trading volume some exchanges show despite the fluctuations in prices and other factors.
On the other hand, the report noted that the United States’ Kraken and Coinbase showed intuitive patterns.
People that have been involved in faking trade volumes have previously been arrested in Korea and strict action is being taken against them as well as any other people that are caught red-handed.