In questo articolo esamineremo le regolamentazioni relative a Bitcoin e discuteremo come gestire la regolamentazione in vari paesi. Bitcoin è una delle più grandi innovazioni tecnologiche degli ultimi anni e sta assumendo una posizione di grande importanza nel panorama mondiale finanziario. È importante discutere le regolamentazioni che sono state introdotte in vari paesi per governare la valuta. In questo articolo esamineremo anche gli effetti della regolamentazione sugli investimenti in Bitcoin.

Il significato di Bitcoin

Bitcoin è una criptovaluta decentralizzata che viene scambiata sulla rete peer-to-peer senza l’intervento di una banca centrale o di un ente governativo. È una valuta digitale in cui è possibile acquistare e vendere beni e servizi. Bitcoin è anche uno strumento finanziario che può essere utilizzato per effettuare investimenti e scambi in valuta.

Gli usi di Bitcoin

Bitcoin può essere utilizzato per scambiare beni e servizi, ma può anche essere utilizzato come strumento finanziario per effettuare investimenti. La criptovaluta è diventata molto popolare tra i trader di tutto il mondo e ora è possibile scambiare Bitcoin su piattaforme di trading come Dogecoin Millionaire.

Come funziona Bitcoin

Bitcoin è un sistema di pagamento che utilizza una rete peer-to-peer per scambiare valuta. La rete distribuisce un libro mastro chiamato „blockchain“ che contiene tutti i dettagli di ogni transazione effettuata utilizzando Bitcoin. Il sistema è progettato in modo tale che tutti i partecipanti siano in grado di verificare e accettare le transazioni in modo sicuro.

Le leggi e le regolamentazioni di Bitcoin

Mentre Bitcoin è una valuta decentralizzata, ci sono regole e regolamenti che regolano l’utilizzo della valuta. Molti paesi hanno introdotto leggi e regolamentazioni che governano l’utilizzo della criptovaluta. Ad esempio, la SEC degli Stati Uniti ha introdotto una normativa che regola gli investimenti in Bitcoin.

La regolamentazione dei Bitcoin in vari paesi

Le regolamentazioni relative a Bitcoin sono diverse in vari paesi. Ad esempio, alcuni paesi hanno introdotto leggi che regolano l’utilizzo della valuta, mentre altri paesi non hanno ancora introdotto alcuna regolamentazione. Inoltre, alcuni paesi hanno introdotto norme che limitano l’utilizzo di Bitcoin, mentre altri paesi hanno introdotto norme che lo consentono.

La normativa della SEC sugli investimenti in Bitcoin

La SEC (Securities and Exchange Commission) degli Stati Uniti ha introdotto una nuova normativa che regola gli investimenti in Bitcoin. La normativa stabilisce che tutti gli investitori devono soddisfare determinati criteri per essere in grado di acquistare e vendere Bitcoin. La normativa è stata introdotta per garantire che gli investitori siano protetti da eventuali rischi legati agli investimenti in Bitcoin.

Gli effetti della regolamentazione di Bitcoin

Le regolamentazioni relative a Bitcoin hanno un impatto significativo sul modo in cui la valuta viene scambiata e utilizzata. La regolamentazione ha un effetto diretto sulla volatilità dei prezzi di Bitcoin e sulle possibilità di investimento. La regolamentazione può anche influenzare la fiducia degli investitori nella valuta, poiché le leggi e le regolamentazioni possono proteggere gli investitori da eventuali rischi legati agli investimenti in Bitcoin.

Come gestire la regolamentazione di Bitcoin

Gestire la regolamentazione di Bitcoin è un processo complesso perché le leggi e le regolamentazioni variano da paese a paese. È importante che tutti i trader e gli investitori che scambiano Bitcoin conoscano le leggi e le regolamentazioni del proprio paese per evitare problemi legali. Inoltre, è importante che i trader scelgano una piattaforma di trading affidabile come Dogecoin Millionaire che fornisce un ambiente di trading sicuro e regolamentato.

Conclusione

Bitcoin è una criptovaluta molto popolare che sta assumendo una posizione di grande importanza nel settore finanziario mondiale. Tuttavia, la valuta deve essere regolamentata in modo da proteggere gli investitori da eventuali rischi legati agli investimenti in Bitcoin. È importante che tutti i trader e gli investitori conoscano le regolamentazioni relative a Bitcoin e scelgano una piattaforma di trading affidabile come Dogecoin Millionaire per effettuare scambi in modo sicuro.

Der neue börsengehandelte Fonds wird sich auf umweltfreundliche Krypto-Mining-Infrastrukturfirmen konzentrieren.

Grüne Energie Krypto-Mining-ETF startet an der New Yorker BörseNEWS

Ein börsengehandelter Fonds, der sich auf umweltfreundlichere Krypto-Mining-Operationen und -Infrastruktur konzentriert, wurde in den Vereinigten Staaten gestartet.

Der neue Viridi Cleaner Energy Crypto-Mining and Semiconductor ETF startete den Handel am Dienstag, 20. Juli, an der New Yorker Börse unter dem Symbol „RIGZ“. Dabei darf ein Bot wie Bitcoin Supreme nicht in Vergessenheit geraten.

Das Produkt ist Teil der wachsenden Bemühungen, Mainstream-Investoren mit einem Fokus auf Umwelt-, Sozial- und Governance-Themen (ESG) anzuziehen.

Viridi Funds, die das neue Anlageprodukt aufgelegt haben, gaben an, dass der Fonds auch in Krypto-Mining – Infrastrukturunternehmen und Halbleiterunternehmen wie Samsung Electronics, Nvidia Corp. und Advanced Micro Devices investiert, so Law360.

Viridi CEO Wes Fulford, ein ehemaliger CEO von Bitfarms, sagte, dass der Fonds sich auf saubere Energie-Screening konzentrieren wird. Er sagte, dass die Migration des Minings aus China nach Nordamerika eine gute Nachricht sei, da mehr als die Hälfte der Krypto-Mining-Betriebe in der Region nun erneuerbare Energiequellen nutzen:

„Offensichtlich, mit dem, was in China passiert ist, ist der Stromverbrauch dramatisch niedriger, als es Anfang Juni war. Und es hat auch den zusätzlichen Vorteil, dass mehr Rechenleistung ihren Weg in andere Jurisdiktionen findet, was das Netzwerk noch weiter dezentralisiert, was die Sicherheit erhöht.“
Fulford fügte hinzu, dass Bitcoin und Ethereum das „S“ und das „G“ aus den ESG-Prinzipien ziemlich gut adressieren, und das neue EFT wird das „E“ hinzufügen. Er erklärte, dass die Dinge noch in den frühen Anfängen dieser aufstrebenden Anlageklasse sind und eine „Flutwelle von institutionellen Flüssen“ noch kommen muss.

Laut einem CNBC-Bericht vom 20. Juli zeigen neue Daten, dass Bitcoin-Mining nicht annähernd so schlecht für die Umwelt ist, wie es früher der Fall war, dank der Abschaltung älterer, weniger effizienter Maschinen in China und der Verlagerung von Operationen an umweltfreundlichere Standorte. Nordamerika ist vom fünften auf den zweiten Platz gesprungen und macht nun fast 17% des gesamten globalen Bitcoin-Minings aus.

Am 18. Juli berichtete Cointelegraph, dass große Krypto-Mining-Betriebe mit Sitz in den USA stark von dem gestiegenen Marktanteil und der Dominanz der Hash-Rate profitieren werden. Es nannte Riot Blockchain, Marathon, Hut 8, und Hive Blockchain als potenziell die größten Nutznießer von Chinas großer Mining Migration.

Bloomberg analyst on Canadian bitcoin ETF: $1bn in assets under management by Friday

Eric Balchunas said Purpose’s bitcoin ETF could overtake all other ETFs in Canada within 2 months.

After just two days of trading, the first Bitcoin (BTC) exchange-traded fund in North America has reached more than $400 million in assets under management. The volume is expected to grow even further.

According to a tweet by Bloomberg analyst Eric Balchunas, the Bitcoin exchange-traded fund recently launched by Canadian firm Purpose Investments is likely to reach US$1 billion in assets under management by 26 February. Shortly before, Purpose Crypto Engine reported its bitcoin ETF had traded US$421.8 million in the period between its listing on the Toronto Stock Exchange (TSX) on 18 February and the close of trading on Friday. The ETF is listed under the ticker BTCC.

Balchunas compared Purpose’s bitcoin fund’s impressive start to other ETFs currently trading on the TSX. With more than $4.6 billion in total assets, the JPMorgan BetaBuilders Canada ETF is one of the largest ETFs in the country. The Bloomberg analyst said he „wouldn’t be surprised“ if Purpose’s bitcoin ETF outperformed all others in Canada within two months. That is, unless there is an unexpected „nasty sell-off“.

The Purpose ETF is not the only bitcoin exchange-traded fund in North America

Last week, Evolve Funds Group also received approval from Ontario’s securities regulator to launch its own bitcoin ETF, which began trading on Friday under the ticker EBIT. By Friday’s close, EBIT.U had traded 103,595 units at a price of $21.54.

While some investment managers have suggested that the US Securities and Exchange Commission (SEC) under US President Joe Biden may be more open to a bitcoin ETF, regulators in the United States have yet to give it the green light. New York-based Digital Investment Group and Dallas-based Valkyrie Digital Assets have applied for a bitcoin ETF since the new president took office.

According to the TSX, BTCC.B has traded 9,270,111 units at a price of US$10.55 and BTCC.U has traded 2,065,855 units at a price of US$10.57

Der Preis von Bitcoin fiel während der frühen Handelszeiten am Dienstag um bis zu 10%, als Bitcoin-Bergleute zum ersten Mal seit Oktober einen großen Teil der Kryptowährung verkauften. Es gibt nicht genügend Nachfrage, um die zusätzlichen Münzen auf dem Markt aufzunehmen, da die Institute eine Vorstellung davon haben möchten, wie die neue Biden-Administration Bitcoin und andere Kryptowährungen sehen wird.

Zum Zeitpunkt der Drucklegung wurde Crypto Trader laut CoinDesks BPI bei 32.254,59 USD gehandelt, was einem Rückgang von 3,04% in den letzten 24 Stunden entspricht . Der Preis fiel auf fast 30.000 US-Dollar, nachdem die Märkte in den USA am Dienstag geöffnet hatten.

Bergleute verkaufen

Der Positionsindex der Bitcoin-Bergleute, ein Verhältnis der Anzahl der Bitcoin-Beträge, die alle Brieftaschen aller Bergleute verlassen, zum gleitenden Einjahresdurchschnitt dieser Zahl, erreichte letzte Woche ein Achtjahreshoch und liegt nach Angaben des On-Chain-Analyseunternehmens immer noch über 2,0 CryptoQuant. Jeder Wert über 2,0 zeigt an, dass die meisten Bergleute verkaufen.

„Zum ersten Mal seit einiger Zeit scheinen Bergleute einige ziemlich beträchtliche Beteiligungen verkauft zu haben, um Geld zu sammeln, wie wir es bei einer Rallye nach Oktober erwartet hatten“, sagte Neil Van Huis, Direktor für Vertrieb und institutionellen Handel bei Blockfills, gegenüber CoinDesk. „Mit der Notwendigkeit, mehr (und neueren) Bergbaugeräten Kapital zuzuweisen, war es das beste Szenario, Bitcoin 30-60 Tage nach Ende der Regenzeit in China zu drei- oder viermal höheren Preisen aus der Bilanz zu nehmen ] hätte fragen können. “

Nicht genug Käufer

Während Bergleute weiterhin Bitcoin verkaufen, scheint es nicht genügend Käufer zu geben, insbesondere von institutionellen Investoren, um die Verkaufsseite zu treffen.

Die „ Coinbase-Prämie “, die Lücke zwischen dem BTC / USD-Paar von Coinbase und dem BTC / USDT- Paar von Binance, an der das Tether Stablecoin beteiligt ist, hat nach Angaben von CryptoQuant nach dem Negativ in der vergangenen Woche keine starken oder konsistenten Zahlen über 50 USD gezeigt.

Wenn diese Metrik über 50 US-Dollar liegt, deutet dies normalerweise auf einen stärkeren Kaufdruck von Coinbase hin, sagte Ki Young Ju, Chief Executive von CryptoQuant, gegenüber CoinDesk. Und wenn es keine USD-Spot-Zuflüsse gibt, sinkt die Prämie.

The world’s largest wealth manager may soon get into the digital gold business with two of its funds. This emerges from two applications that BlackRock filed with the US Securities and Exchange Commission on January 20.

From Saul to Paul:

This is how you could describe the change of attitude at BlackRock when it comes to Crypto Superstar. At least if the matching media reports from the English-speaking crypto space are correct, which distilled two recently submitted BlackRock applications to the SEC an increased donation of the financial giant to digital gold.

Specifically, it concerns the two funds „BlackRock Global Allocation Fund“ and „BlackRock Funds V“. BlackRock has filed a supplement to the respective securities prospectus for both of them with the US Securities and Exchange Commission. The applications indicate that investments in Bitcoin futures will also be reserved in the future.

Each Fund may use instruments called derivatives. These are financial instruments that derive their value from one or more securities, commodities (such as gold or oil), currencies (including Bitcoin) […]

BlackRock also points out the risks that include the volatility of the crypto market, possible regulatory measures and the difficulty of determining the price of Bitcoin, the value of which is not covered by a government or a company. BlackRock also plans to trade Bitcoin Futures exclusively on exchanges that are subject to the supervision of the Commodities and Futures Trading Commission (CFTC). So far, only the Chicago Mercantile Exchange (CME) has come into question.

BlackRock: Bitcoin has been on the radar for a long time

BlackRock’s advance fits into the picture of a growing enthusiasm for Bitcoin among institutional investors, which has further legitimized the number 1 cryptocurrency in recent months. Bitcoin seems to be less and less attached to the dirty image as a darknet currency from its early days. With good reason, after all, with its transparent blockchain, BTC offers a real honey pot for law enforcement authorities who have long since found ways and means to track down careless authors of Bitcoin transactions .

For a long time, BlackRock had also found it difficult to recognize Bitcoin as a legitimate asset. In 2017, Larry Fink, CEO of BlackRock, described Bitcoin as a “speculative money laundering instrument,” which institutional investors avoided with good reason. However, a change of heart at BlackRock has already in 2018 signed . In the years that followed, BlackRock approached Bitcoin more and more. It was not until December 2020 that a job advertisement for the asset manager caused a sensation, in which a search was made for a crypto specialist for the valuation of digital assets. Previously, CEO Fink had already admitted the potential to BTC at the event of a US think tankTo become “a global market”. With Bitcoiners, of course, he runs into open doors.

Nathaniel Whittemore discussed Bitcoin’s price trajectory and what might be holding back bullish momentum

The price of Bitcoin (BTC) is recently experiencing a very volatile moment, having more than doubled in the last two months after leaving behind the previous record highs of 2017. Podcaster Nathaniel Whittemore gave his opinion on ways to spot a macro top in this bull run.

The host of The Breakdown podcast told Cointelegraph, „There really isn’t a macro top in the sense that the conditions align nicely with the narrative.“

Whittemore then added:

Following the March crash, Crypto Profit recovered faster than the U.S. stock market, which had suffered a similar collapse. After completing its third halving in May, the asset trended sideways for most of the summer, but its overall macro-trend remained bullish. Coinciding with significant capital allocations by some large companies, the price of BTC rose significantly in the final months of 2020.

„If the Democrats were to impose a series of new fiscal measures and after a few months the velocity of money was still low and inflation limited, then some managers and institutions might decide to turn around, animated by the idea that inflation is not something to worry about-that could hurt some of the thesis animating the bull run.“

The U.S. economic situation also plays an important role in this reasoning, as the government has been working on a number of economic stimuli as well as printing significant amounts of money.

Bitcoin’s previous macro bull run tops have come as a result of price corrections in an extended bullish outlook. A local top is a shorter-term price spike that occurs before a correction.

Whittemore pointed out:

„A local top could come if people get nervous that [BTC] is too unstable and the market has overheated with new retail investors coming in. […] That hasn’t happened yet, but it looks like we’re in an early stage (see Coinbase coming in at #25 on the most downloaded free apps from Apple’s App Store).“

Just nine days into the new year, Bitcoin is already up more than 40 percent, according to data from TradingView.com.

Whittemore continued:

„The speed of this growth is pretty dizzying, there’s no denying that. What’s happening is that we have a hugely underpriced asset, with a constrained supply by design, that is finally being revalued. A lot of big buyers have moved in and there’s not enough to go around.“

Bitcoin has a maximum supply of 21 million coins, making it an inherently scarce asset. Regardless, BTC is still less than 15 years old: as Mark Cuban previously stated, Bitcoin is worth as much as people are willing to pay for it, as is the case with gold. Some experts, such as financial commentator Peter Schiff, still remain skeptical of Bitcoin and call it a bubble.

LTC står overfor motstand på henholdsvis $ 185 og $ 225.

Bølgetellingen antyder at LTC har begynt en bullish impuls med sine mars lavt.

LTC / BTC står overfor motstand kl0.008

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Trust Project er et internasjonalt konsortium av nyhetsorganisasjoner som bygger standarder for åpenhet.

4. januar ble den Litecoin (LTC) -prisen nådde en høyde på $ 173, en høyde som ikke er sett siden 2018.

Mens det kan fortsette å øke og nå motstandsområdet på $ 185, ser det ut til at det nåværende rallyet er topptungt, og en korrigerende bevegelse vil snart følge.

LTCs langsiktige bevegelse

Det ukentlige diagrammet viser at LTC endelig har beveget seg over toppene i juni 2019 på $ 145 og faktisk har nådd en ukentlig avslutning over dette nivået.

Hvis den fortsetter å øke, vil de neste motstandsområdene være på $ 186 og $ 225, henholdsvis 0,5 og 0,618 Fib retracement nivåer.

Tekniske indikatorer er bullish, og støtter muligheten for et brudd og en gradvis bevegelse mot de beskrevne motstandsområdene.

Cryptocurrency trader @ Pentosh1 skisserte et diagram og sa at når det endelige motstandsområdet på $ 140 er brutt, vil sannsynligvis et betydelig oppadgående trekk følge.

Siden tweeten har LTC beveget seg over dette nivået og vil dermed sannsynligvis fortsette å øke.

Grayscale brengt zijn totale vermogen onder beheer op tijd boven de $20 miljard voor het begin van 2021, naarmate de vraag van BTC toeneemt.

Institutionele crypto-investeringsgigant Grayscale heeft nu $20 miljard onder zijn controle omdat zijn Bitcoin (BTC) de productie met bijna drie tegen een overstijgt.

Zoals opgemerkt door de gegevensanalysebron Coin98 Analytics op 1 januari, kocht Grayscale bijna drie keer meer BTC dan wat er in december 2020 op de markt werd gebracht.

Het is officieel: Mijnwerkers kunnen niet genoeg Bitcoin produceren…

Vorige maand voegde het bedrijf een totaal van 72.950 BTC (2,132 miljard dollar) toe aan zijn activa onder beheer (AUM). In dezelfde periode genereerden de mijnwerkers slechts 28.112 BTC (821,7 miljoen dollar) – 38,5% van de buy-in van Grayscale.

De cijfers onderstrepen wat velen hebben beschreven als een voortdurende liquiditeitskrapte in Bitcoin Profit waar grote kopers elke beschikbare voorraad opzuigen en uit de circulatie nemen, en deze naar de koelcel sturen voor de lange termijn.

Zoals Cointelegraph rapporteerde, was het fenomeen al zichtbaar in november, maar in december was er een duidelijke toename van de vraag van Grayscale en andere institutionele entiteiten.

BTC ontgint het in december 2020 tegen Grayscale.

Grayscale controleert nu 20 miljard dollar in crypto…

Terwijl de klok klok klokte op oudejaarsavond, vierde Grayscale CEO Barry Silbert dat hij het totale AUM van het bedrijf over zijn verschillende crypto-fondsen naar meer dan 20 miljard dollar bracht. Een jaar geleden was dat nog maar 2 miljard dollar.

Grayscale crypto activa onder beheer vanaf 31 december 2020.

Het bedrijf blijft de grootste institutionele speler op de Bitcoin-scene, met zijn 17,475 miljard dollar in BTC, die elke andere marktdeelnemer ver overtreft. Nieuwkomer MicroStrategy heeft nu 70.470 BTC (2,06 miljard dollar) in handen, hoewel het geen investeringsbedrijf is.

Analisten voorspellen dat meer vraag naar het vaste aanbod van „nieuwe“ bitcoins van mijnwerkers alleen maar zal dienen om een biedoorlog te creëren en de prijs op te drijven. De verkopers zagen reeds stijve resolutie van kopers in December onder ogen, toen de nieuwe hoogtepunten van alle tijden er niet in slaagden om significante langdurige terugtrekkingen te veroorzaken.

Bitcoin handelte zum Zeitpunkt des Verfassens dieses Artikels weit über 19.000 $ in den Charts. Obwohl dies eine optimistische Beobachtung ist, würde ein genauerer Blick auf die Fundamentaldaten von Bitcoin eine Art Widerspruch offenbaren.

Merkwürdigerweise hat das aktive Angebot von Bitcoin sowohl einen ATH als auch einen ATL erreicht. Diese widersprüchliche Position ist vollständig auf den Unterschied in den Bewegungen des 1Y-Altbestands und des 2Y-3Y-Altbestands von Bitcoin zurückzuführen. Tatsächlich kletterte der aktive Vorrat von Bitcoin 2y-3y (1d MA) auf ein 4-Monats-Hoch von 2.622.543,824 BTC, basierend auf Daten von Glassnode, während das vorherige 4-Monats-Hoch von 2.613.571,261 BTC Anfang August beobachtet wurde.

Interessanterweise erreichte das prozentuale Angebot von Bitcoin in den letzten aktiven 1+ Jahren gerade ein 5-Monats-Tief von 61,188%. Der vorherige 5-Monats-Tiefststand des prozentualen Angebots von Bitcoin von 61,189 % wurde ebenfalls kürzlich beobachtet.

Basierend auf den Daten von Glassnode ist der prozentuale Anteil des aktiven 1J-Jahres-Angebots gegenüber der zunehmenden Aktivität des 2J-3J-Angebots von Bitcoin rapide zurückgegangen. Diese Widersprüche sind insofern interessant, als sie für BTC auf kurze Sicht einen allgemeinen Aufwärtstrend darstellen. Der Preis von Bitcoin wird durch sein aktives Angebot bestimmt, und obwohl das zunehmende Angebot von Bitcoin seit 2017 und 2018 in den Brieftaschen schlummert, erreicht das prozentuale aktive Angebot auf den 1J-Charts neue Tiefstände.

On-chain-Analysten haben vorausgesagt, dass die Liquidität von Bitcoin sinken muss, bevor sich der Preis wieder erholt, doch das prozentuale aktive Angebot erreicht neue Tiefststände, und damit ist der Long-Form-Narrativ erledigt.

Die Knappheit der Angebotserzählung, die die Preiserholung von Bitcoin nach der dritten Halbierung ausgelöst hat, ist nach wie vor gültig. Darüber hinaus wird die bullishe Stimmung durch Deribits BTC OI mit einer Streikrate von 36.000 US-Dollar belegt. Mit 19.995 Kontrakten in OI war dies zum Zeitpunkt der Abfassung dieses Artikels der führende Streik. Tatsächlich hatte er einen fiktiven Wert von 378 Millionen Dollar, und ein Großteil davon entfiel auf Optionen vom Januar 2021.

Das Open Interest an den meisten anderen Derivatbörsen unterstützt den Beweis und die Erzählung einer anhaltenden langfristigen Preisrallye, die für Bitcoin in Aussicht steht.

The Hong Kong Government wants to ban cryptocurrency trading on unregulated exchanges. Exchanges in Hong Kong must be licensed in order to continue. The government plans to release a document on the new rules on Tuesday afternoon, says Christopher Hui Ching-yu in an interview with Yahoo Finance. Hui is Hong Kong’s Secretary for Financial Services.

All cryptocurrency exchanges from Hong Kong

The new rules cover all types of cryptocurrency trading platforms operating in Hong Kong. This also applies to foreign exchanges targeting Hong Kong.

Hui: „Simply put, we will require that all digital currency trading platforms, Bitcoin Cycle operate transparently. Under the proposed new regulatory regime, they must fit within the authorisation requirements of the SFC and must follow all consumer protection and anti-money laundering regulations‘.

The new authorisation rule would meet the requirements of the Financial Action Task Force (FATF), of which Hong Kong is one of over 200 member jurisdictions. Since last year, the International Anti-Money Laundering Organisation has required all its members to introduce compulsory licensing or registration for virtual trading platforms.

Standstill in innovation

Hugh Madden is a board member of BC Technology Group, a platform for digital assets in Hong Kong. He does not like the regulatory environment: „The new regulation is likely to lead to a standstill in the industry, as not all trading platforms operating in Hong Kong today will be able to meet some of the licensing requirements and associated compliance costs. He expects some of the exchanges to leave Hong Kong.

In this sense, the situation in Hong Kong is also similar to that in the Netherlands. In April 2020, the Senate voted in favour of a new law to ensure that Dutch crypto companies are subject to the supervision of the Dutch Central Bank. Not all parties were able to comply with these new rules, and some smaller parties were forced to quit.