Crypto regulations are cropping up around the world — in the US, it’s the Biden Administration’s executive order; in India, it’s the 30% tax on profits gained from crypto transactions; in UAE, the regulatory body for virtual assets. With regulatory moves springing to life across the globe, a question arises: what does the future of cryptocurrency look like? Jaguar Adva Gal, the charismatic CEO of JAGuar Lawyers shares her insights.
“We call the crypto regulators of the world to unite,” says Jaguar in an interview with CoinQuora at the Trescon WBS conference. “We need a unified regulation. And each country could enforce it to whatever level it chooses to.”
Jaguars goes on to say that the world needs regulation upon which corporates and companies can move and operate in, and still be totally legit and compliant. “However, we need that regulation to be an enabling one,” she adds. “For example, requiring NFT companies to KYC each and every client, even for very small and minor transactions, is not realistic in their world. They won’t have a business.”
Nevertheless, the Israel-based lawyer also believes in the need for regulations to fight fraud and money laundering. She urges regulators to meet and cooperate on crafting crypto-specific and NFT specific-regulations — that are enabling but also strict.
JAGuar Lawyers focuses on international business law consulting, including building companies’ contractual structure, international licensing, regulatory compliance, and court litigation, as well as legal financial arbitration. Its leader, Jaguar Adva Gal, is part of the advisory board of Future1 Exchange. She is also the Chief Compliance Officer of FotuneZ and is involved with IQONIQ. Keen to grow knowledge in the sector, she is also writing a legal book on Blockchain, the first of its kind.
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Source: Cryptocurrency - investing.com
