Why can’t Bitcoin be registered (why can’t Bitcoin be canceled when registered)?

Why can’t Bitcoin be registered? Why can’t Bitcoin be registered? Can’t Bitcoin be registered (cryptocurrencynoted)?

If we consider cryptocurrency as finance, it would be highly centralized. However, if you purchase some digital assets with your credit card, debit card, or any other method, you will encounter this problem: Why can’t any company use Bitcoin as a form of payment?

Because these institutions must accept and store their customers’ data and have ownership over them, their funds can only be stored in public wallets and not used for transactions or exchanging for goods or services.

But this doesn’t mean that anyone can do this, but rather it implies that Bitcoin cannot be registered.

In fact, most U.S. governments prohibit holding and transferring encrypted assets, and the U.S. Securities and Exchange Commission allows users to transfer cash from bank accounts.

Although Bitcoin is still not compliant with the law in the United States, similar regulations exist in Europe.

Although Bitcoin is an investment option, it is different from traditional financial markets – as it is backed by fiat money, it is not typically used as a substitute for legal tender.

In addition, to make it a feasible store of value and prevent criminal activities, the U.S. Federal Trade Commission requires Bitcoin investors to provide information about their financial status to ensure compliance with Anti-Money Laundering (AML/CTF) regulations.

For those who want to create and manage their own digital currency, it is a very challenging task: many people try to create their own tokens to acquire these tokens and then send them to entities they trust.

For example, when an address receives a payment, the user’s account is frozen.

However, once an address successfully receives a payment, this account no longer exists.

Of course, many people are concerned that this situation may change over time. For example, people have been waiting for approval of this process for the past decade until one day it receives approval. “To let a Bitcoin project run a node through its website, it needs validation.”

However, even in the recent months, this approach has been improved, such as large cryptocurrency exchanges like Coinbase also having to adopt stricter measures. For example, Coinbase recently announced plans to establish a new company called “Bitcoin”.

However, crypto platforms like Gemini are considering how to implement it to help achieve this.

Original source from ambcrypto, compiled and translated by Blockchain Knight, English copyright belongs to the original author, please contact the editor for Chinese reprint.