Too Long; Didn't Read
The world of cryptocurrency is rapidly changing and evolving. Innovators and entrepreneurs are constantly introducing new cryptocurrencies, each promising new and varying characteristics to attract investors and users. Global official sector reaction to cryptocurrencies varies as the decentralized technology does not fit easily into existing regulatory definitions and structures. This sector will likely continue to be cautious as it monitors the risks to financial integrity, consumer protection, financial stability, tax evasion and treatment, and monetary policy. Leaders in regulation, like Japan, are likely to set the standard for the rest of the world in a scenario where the borderless nature of cryptocurrencies requires a cohesive and collaborative effort.