Cryptocurrencies are still currently operating within the grey area where there are numerous benefits of using, trading, or investing in them, but because of the present lack of regulatory infrastructure, is highly volatile, there remains a lack of general understanding on its functioning, and may attract unfair practices.
Hence, currently what is required is for Countries to develop effective cryptocurrency laws, including but not limited to anti-money laundering rules, crypto company management laws and regulations, and the most important having a dedicated regulatory body to oversee that crypto exchange companies do not engage in any illicit or illegal activities.
