1. Aiwaka AdventuresHome
  2. Metaverse Matters

Why are all cryptocurrency exchanges foreign? (Why is the price of digital currencies different on each exchange?)

• Metaverse Matters • 65 views

Why are all cryptocurrency exchanges foreign? According to coincryptorama, over

Why are all cryptocurrency exchanges foreign? (Why is the price of digital currencies different on each exchange?)

Why are all cryptocurrency exchanges foreign? According to coincryptorama, over 10 million digital currencies were stolen between September 28 and November 6, 2017. It’s reported that these thefts caused the price of Bitcoin to plummet by about 80%.

But why are most cryptocurrency exchanges foreign? This is because most digital currency exchanges are located overseas, and their platforms themselves have some non-compliant issues. For example, they haven’t registered a bank account or operated their own company. If users engage in transactions through such exchanges, it could result in losses.

Many domestic companies and institutions choose to enter foreign markets in order to avoid this problem. However, due to the current financial laws and regulations in our country and the regulatory provisions on virtual currency trading and ICOs, exchanges must operate according to internationally applicable rules. Therefore, individuals and companies engaged in such illegal activities, even if they establish a company in Japan or any other place, must comply with strict supervision by the local government.

Why is the price of digital currencies different on each exchange?

According to bitcoinist, why are the prices of digital currencies different on each exchange? This is because each platform is an independent company. And different markets are different in this way: different trading volumes and liquidity on different platforms lead to differences in the trading market. At the same time, due to the increasingly fierce competition between different platforms and the need to attract more users, we have to make exchanges with other platforms, resulting in large price differences among these exchanges.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/13/why-are-all-cryptocurrency-exchanges-foreign-why-is-the-price-of-digital-currencies-different-on-each-exchange/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/13/2023 08:56
Next 08/13/2023 09:18

Recommended articles