Blockchain And Digital Finance: Regulatory Issues And Possibilities

INTRODUCTION

Over a decade ago, Satoshi Nakamoto, the unknown person or group behind bitcoin described how blockchain technology could be used to solve the double-spending problem. Over a decade later and blockchain is now completely changing the ways we think about and use digital currencies. From the widespread acceptance and use of cryptocurrencies enabled by blockchain to central banks adopting digital currencies that are based on blockchain technology.

With more people using cryptocurrency as a medium of exchange and for trading purposes, there are increasing regulatory concerns especially due to the decentralised nature of blockchain which is the underlying technology. The subject of regulation of cryptocurrency and blockchain has been widely debated among various governments. Some governments have issued regulations and guidance relating to blockchain technology while some have remained undecided and have not put out any official statements regarding this