Crypto-friendly regulation is subjective, says MyEtherWallet CEO

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 15422
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Updated September 21, 2022 | Published November 20, 2020

2 mins read

Speaking to CoinTelegraph, about what “crypto-friendly” meant in practice, he argued that each country is free to define regulation as it sees fit.

With Ripple facing regulatory pressure in the US, but also potentially serving as the basis of central bank digital currencies in the future, it seems Hemachandra has a point.

Continuing on the issue, Hemachandra explained that China is considered one of the less crypto-friendly regions. The country is looking to create its own digital money supply, but it's not going to allow independent currencies to circulate, replacing it instead with a digital yuan.

“In some places, especially those where fiat currencies are unstable or highly inflationary, regulations may be against crypto, but there is widespread use of client-side crypto solutions”, Hemachandra said.

He continued by noting that while the most crypto-friendly places may seem like a catch, ultimately the entire concept of “crypto-friendliness” is a little misleading, as currencies should all strive towards global usage, unperturbed by any regulation.

Many crypto and blockchain projects have been able to achieve this, more or less, with household names such as Bitcasino, 1xBit, and FortuneJack now available globally.

Yet, arriving at uniform regulation will not be easy. The US, for example, has 50 different states which are sovereign from one another. While a federal law may apply, each state will have to decide how to adapt and allow the use of cryptocurrencies.

As Hemachandra says, it's all subjective, when it comes to how user-friendly countries or even individual jurisdictions are. As CGN noted earlier this year, blockchain gaming deserves regulatory clarity, but so does the entire industry.

Want the chance to win an iPhone 11 Pro? Then take a couple of minutes to complete our CGN survey.

Alex

Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

View all posts

SEC chairman doubles down on crypto position

UK gambling white paper arrives, Coinbase sues SEC… SEC strikes back

Single crypto wallet launches 114 suspect coins

Kindred Group moots ‘merger or sale’

North Korean crypto laundering suspect named

Looking for your next crypto casino? Check out: Bitcasino or FortuneJack.

Array ( [0] => WP_Term Object ( [term_id] => 7818 [name] => Cameron Winklevoss [slug] => cameron-winklevoss [term_group] => 0 [term_taxonomy_id] => 7818 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 4 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 3570 [name] => crypto exchange [slug] => crypto-exchange [term_group] => 0 [term_taxonomy_id] => 3570 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 256 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 8687 [name] => Dublin [slug] => dublin [term_group] => 0 [term_taxonomy_id] => 8687 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 5025 [name] => Gemini [slug] => gemini [term_group] => 0 [term_taxonomy_id] => 5025 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 25 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 8688 [name] => Ireland [slug] => ireland [term_group] => 0 [term_taxonomy_id] => 8688 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [5] => WP_Term Object ( [term_id] => 8689 [name] => Leo Varadkar [slug] => leo-varadkar [term_group] => 0 [term_taxonomy_id] => 8689 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [6] => WP_Term Object ( [term_id] => 5044 [name] => MiCA [slug] => mica [term_group] => 0 [term_taxonomy_id] => 5044 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 28 [filter] => raw ) [7] => WP_Term Object ( [term_id] => 8690 [name] => Virtual Asset Service Provider [slug] => virtual-asset-service-provider [term_group] => 0 [term_taxonomy_id] => 8690 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 181 [name] => Blockchain [slug] => blockchain [term_group] => 0 [term_taxonomy_id] => 181 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 908 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 4857 [name] => Chainalysis [slug] => chainalysis [term_group] => 0 [term_taxonomy_id] => 4857 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 42 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 363 [name] => China [slug] => china [term_group] => 0 [term_taxonomy_id] => 363 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 17 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 8685 [name] => fentanyl [slug] => fentanyl [term_group] => 0 [term_taxonomy_id] => 8685 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 8686 [name] => narcotics [slug] => narcotics [term_group] => 0 [term_taxonomy_id] => 8686 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [5] => WP_Term Object ( [term_id] => 5495 [name] => stable coins [slug] => stable-coins [term_group] => 0 [term_taxonomy_id] => 5495 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 4 [filter] => raw ) [6] => WP_Term Object ( [term_id] => 2465 [name] => tether [slug] => tether [term_group] => 0 [term_taxonomy_id] => 2465 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 15 [filter] => raw ) )

Array ( [0] => WP_Term Object ( [term_id] => 2812 [name] => blockchain casinos [slug] => blockchain-casinos [term_group] => 0 [term_taxonomy_id] => 2812 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 2 [filter] => raw ) [1] => WP_Term Object ( [term_id] => 402 [name] => Crypto Casino [slug] => crypto-casino [term_group] => 0 [term_taxonomy_id] => 402 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 30 [filter] => raw ) [2] => WP_Term Object ( [term_id] => 58 [name] => esports [slug] => esports [term_group] => 0 [term_taxonomy_id] => 58 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 36 [filter] => raw ) [3] => WP_Term Object ( [term_id] => 4162 [name] => esports betting [slug] => esports-betting [term_group] => 0 [term_taxonomy_id] => 4162 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 2 [filter] => raw ) [4] => WP_Term Object ( [term_id] => 8683 [name] => Evil Geniuses [slug] => evil-geniuses [term_group] => 0 [term_taxonomy_id] => 8683 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [5] => WP_Term Object ( [term_id] => 8684 [name] => Thunderpick [slug] => thunderpick [term_group] => 0 [term_taxonomy_id] => 8684 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 1 [filter] => raw ) [6] => WP_Term Object ( [term_id] => 6185 [name] => women [slug] => women [term_group] => 0 [term_taxonomy_id] => 6185 [taxonomy] => post_tag [description] => [parent] => 0 [count] => 2 [filter] => raw ) )

Crypto-friendly regulation is subjective, says MyEtherWallet CEO

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether

Similar News

Gemini sets up shop in Ireland

Links between China chemical firms and crypto revealed

Evil Geniuses partners with Thunderpick crypto casino

Best Casinos to play with… Bitcoin Bitcoin Ethereum Tether

Similar News

Gemini sets up shop in Ireland

Links between China chemical firms and crypto revealed

Evil Geniuses partners with Thunderpick crypto casino

Best Casinos to play with…
Bitcoin

Bitcoin

Ethereum

Tether