Investment Preferences Are Shifting To Big Cap CryptocurrenciesOctober 7, 2019
The cryptocurrency market is slowing down. Small-cap cryptocurrencies are facing tough market challenges. There is a widening gap between real use and the approval of the idea of cryptocurrency. Investment preferences are shifting to significant cap cryptocurrencies like the Bitcoin.
Japan’s Ministry of Internal Affairs and Communications does not require individuals to report the source of funding that they receive in cryptocurrencies. Therefore, those who are having cryptocurrency will now be able to support their favourite candidate by donating in cryptocurrency.
The Japanese government has permitted this because being on the decentralized ledger, whether the transaction is big or small, is stored in the ledgers. Despite this, experts have voiced their concerns regarding this move. They are concerned that in the current scenario, larger corporates would transfer vast sums of money to their preferred candidates without having to report it. Critics believe that all the excellent work that was done so far to keep the election funding clean to go down the drain.
Whether it is harmful or useful can be determined only after learning about the consequences of these processes.
Katie Haun, the Federal prosecutor who used to be previously investigating corrupt officials and mafia, is now examining Bitcoin and is now hailed as the credible face of the crypto.
Haun has decided that the currency itself was not what wanted the probing. She has witnessed several cases where the Bitcoin has been used for while collar crimes. In reality, the blockchain technology, which was behind the token was the primary clue that helped her department sort the case.
Haun is now handling the $350 million cryptocurrency fund, which was the early part of the launch of Facebook’s Libra. The Bitcoin task is not at her desk. While she was about to see that Bitcoin might enable criminal activity, she feels that it was not responsible.
When it comes to the subpoena of Bitcoin, it was more comfortable than it was to track cash or credit card cash or international bank accounts.
When talking about blockchain technology she stated, “The government was able to use that same technology to track down criminal activity it might not otherwise have been able to,” she further added, “Without the underlying technology bitcoin, we never would have been able to catch those people.”
She opines that, in most cases, the earliest adopters of new technology are criminals. They use it as a loophole or a method to exploit systems.