The rise of cryptocurrencies happened in an unregulated environment. For a long while, regulators have stayed away from the action, and the prices continued to soar. Although in 2017, regulatory bodies started to take their first steps towards regulating the cryptocurrency market, it continued to grow unrestricted. There was an explosion on the ICOs of blockchain-based companies and were able to reach $4 billion in funding despite regulators such as the Securities and Exchange Commission started to circulate. Today, however, regulations such as Anti-Money Laundering, securities regulations, exchange controls, and state-backed cryptocurrencies are sprawling all over the crypto space, and these have negative effects on cryptocurrencies.
A study that was made by a group of experts, and was published in the journal Research in International Business and Finance, confirmed that the regulations drove the price of bitcoin and other cryptocurrencies to drop significantly. Such observation was a result of their analysis of 120 news articles that were regulation-related and were published on media outlets, such as Reuters, BBC, the Financial Times, and Bloomberg. They then estimated the direct impact of each event on the price of 300 cryptocurrencies with bitcoin being the merit of market capitalization and discovered that those regulations have a significant negative impact on the prices of cryptos.
Out of all regulations that went under this study, issuance regulation has the most price drop impact of 2.67%. Following this were AML policies with the price drop impact of 2.47% and exchange regulations with a price drop impact of 1.78%. The same study showed that if those regulations relax, the effects on the prices of cryptocurrencies will be the opposite because they will rise. While the purpose of these regulations is to reduce risks and increase the mass adoption of cryptos, the result of this study indicates that regulating cryptocurrencies and exchanges devastates their value. The crypto market is better off without any suppression or control from any regulating body.
This is the winning factor of Virie coins (VRE) because it cannot be controlled by any regulating body. While other cryptos use third-party exchanges, VRE has its own decentralized exchange, the Virie Market, which makes it safe not only from suppression of any government but most importantly, it is safe from hackers and scammers because no personal information will be required to use the platform. All you have to do is download, install, and wait for it to synchronize, and you’re all set. The creators of Virie value freedom most of all, and that’s what this virtual market is all about.
With its most user-friendly interface, you don’t even have to be a geek to use it. Transactions are processed in just a few clicks and a few minutes. Watch out for its upcoming ICO very soon. Investors should seriously consider investing in this ICO because there is a finished product already, unlike other ICOs that failed because they were selling their ideas only, not a finished product. Newbies are welcome too, as it won’t take you long to learn how to trade in Virie Market. Its source code is open to all. Check it for yourself here.