Crypto Engine is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today.
A positions paper published by the Securities and Exchange Commission of Pakistan (SECP) highlighting necessary measures for a seamless digital trading experience impressed India’s Crypto Players.
The SECP released a paper that asked for improvements in the current regulations for the cryptocurrency trading platforms. The current regulations were regarded as stifling and excessive. Major league crypto players applauded this claim and agree that the current regulations that are imposed on all cryptocurrency trading platforms in the countries.
Two possible approaches that Pakistan could implement in the current regulations are proposed in the paper. The first approach is what is currently implemented in the system which requires the implementation of the current regulations to the new products that are being introduced in the market. This will also lead to the banning of certain items if they do not comply with the regulations of the country. This approach forces suppliers to comply with the countries regulations.
This paper proposes a second approach to the regulations which is the do-not-harm approach which is provided by the Commodity Futures Trading Commission (CFTC). This approach files against the overregulated and stifling trading environment. The paper highlight the urgency of innovations that are required in the current financial sector.
The paper addresses the difference between utility tokens and security tokens and talks about the differences in the ledgers of real assets and tokenized assets. Insurance of real traditional assets as tokenized assets will introduce a number of additional benefits to the investors. Some advantages that are highlighted in the paper include transparency, increased protection to stop duplications, etc. It also adds the benefit of increased profits as the cost of mediators will be cut off completely.
The regulatory measures for the digital asset, namely cryptocurrencies, taken by the emerging markets of Thailand, Japan, and Australia, amongst others are also discussed in the paper. The discussion highlights the regulatory measures taken by those countries that ensure a safe trading environment as well as allow traders the freedom that the current regulations in Pakistan lack.
This introduced approach was highly acclaimed by the Indian crypto players and demand that the same regulatory adjustments should also be implemented in the Indian system.
Altcoin Directory is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Content Posts) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.
