Regulatory Standards And Rules
Numerous countries are currently debating and gauging the use of cryptocurrencies and their many pros and cons. Based on this, some countries have set regulatory standards which affect the value of cryptocurrencies.
This is because governments, through the laws, can limit the usage of cryptocurrencies, and depending on the use of the population, the prices can be affected.
For instance, in September, China banned the usage of any kind of cryptocurrency transaction by deeming them illegal. The majority of the Bitcoin miners were from China, which led to a drastic fall in the price of the said cryptocurrency.
This one simple example shows how governments’ laws and regulations can affect cryptocurrency.
