Cryptocurrency

COIN

Bitcoin

Every passing year presents new challenges that the <a href="https://en.coin-turk.com/" target="_blank" rel="noopener" data-wpel-link="internal">cryptocurrency</a> industry has to overcome. The only good part is the growing scale of the problem. In the early days, no one paid much attention to Bitcoin and others, predicting their failure. Subsequently, comparisons to gambling started to arise. Then the industry was long associated with ransomware. 
<h2 style="text-align: justify;" id="growing-problems-of-cryptocurrencies">Growing Problems of Cryptocurrencies</h2>
Before the 2017-18 bull run, there was a perception that ransomware equals Bitcoin, with WannaCry playing a significant role here. After that period came long dull stretches, and when <a href="https://en.coin-turk.com/bitcoin-prices-hold-steady-amid-global-cryptocurrency-regulatory-concerns/" target="_blank" rel="noopener" data-wpel-link="internal">Bitcoin</a> became the focus of institutions, it encountered larger adversaries. Now, regulators without issues with Bitcoin are complaining that many altcoins are not compliant with laws. We might see the largest investors entering the field when cryptocurrencies find a legal foundation. 
Of course, the &#8220;war&#8221; process needs to be completed first. The regulatory war, initiated by the SEC, is evolving into a process that accepts cryptocurrencies and pushes them within legal boundaries. As cryptocurrencies have grown with their problems, this is not too serious a problem in the long run. We can&#8217;t predict the future, but the past suggests this. 
<h2 style="text-align: justify;" id="coinbase-shares">Coinbase Shares</h2>
Moody&#8217;s announced on Thursday that it has downgraded the outlook of Coinbase from stable to negative following a lawsuit filed by the U.S. Securities and Exchange Commission against the crypto exchange earlier this week. The credit rating agency, indifferent to the tears of the largest exchange in the U.S., has quite normally penalized the region&#8217;s largest player in the midst of the war. 
<blockquote>
The change in outlook from stable to negative reflects the magnitude of the uncertain impact of the SEC&#8217;s allegations on Coinbase&#8217;s business model and cash flows.
</blockquote>
Coinbase could face potential consequences of regulatory actions, including &#8220;disgorgement of ill-gotten gains,&#8221; as well as interest and penalties. 
<blockquote>
Moody&#8217;s expects Coinbase to continue focusing on expense management, which has served to offset the adverse impact of the decline in transaction revenue following the surge in activity since the onset of the coronavirus pandemic.
</blockquote>
<img decoding="async" loading="lazy" class="aligncenter wp-image-83739 size-full" src="https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1.png" alt="" width="1968" height="916" srcset="https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1.png 1968w, https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1-300x140.png 300w, https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1-768x357.png 768w, https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1-1536x715.png 1536w, https://en.coin-turk.com/wp-content/uploads/2023/06/coin-1-1200x559.png 1200w" sizes="(max-width: 1968px) 100vw, 1968px" />
COIN shares, which fell to $51.6 on the day of the lawsuit, closed today at $54.9. Like on the Bitcoin front, panic seems to have ended here, at least for now. 
The post <a rel="nofollow" href="https://en.coin-turk.com/regulatory-challenges-escalating-in-cryptocurrency-industry-a-closer-look/" data-wpel-link="internal">Regulatory Challenges Escalating in Cryptocurrency Industry: A Closer Look</a> appeared first on <a rel="nofollow" href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Regulatory Challenges Escalating in Cryptocurrency Industry: A Closer Look

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