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More countries are now joining the trend of adjusting the regulations that governs the use of bitcoin and other crypto-currency in their countries. Most of these countries fears that bitcoin and its counter-parts are all part of a bigger ponzi scheme and if its citizens should invest they will eventually loose their investments.
One such country is Nigeria, in a series of recent events that rocked the nation, more than 200 Billion Naira is rumored to have been stuck or lost to ponzi schemes. In light of this, the law makers of the country have instructed the national financial institute to warn the general public about the risks involve in investing in bitcoin and other cryptos.
With Nigeria raising a red flag for bitcoin and its counter-parts, more countries are now joining the regulate rules for use of crypto movement. Other countries to have adjusted their rules are, China, South Korea, Japan and India.
How will the future of bitcoin look like for heavy investors with giant financial and government kicking against it? What if people become too scared to use bitcoin due to the continuous interference from government and giant financial institution?
The continuous regulation of crypto rules from different rules in the world is not good for bitcoin and other crypto-currencies. Follow us on Twitter and Instagram @Mntrendsblog also like our Facebook page “Mntrends Blog” for latest updates.