Why Do People Require New Law? Xtem coin

Crypto-currency in Seychelles-Why Do People Require New Law? Cryptos are still unpopular in many countries like Seychelles. Due to lack of centralized power to control ICO and bitcoin exchanges, people do not prefer crypto currency in Seychelles. Bank, government and court have no control over such big crypto trading. Therefore, it can’t be the prime mode of transaction like XTEM in this country

XTEM Coin

Controversy Regarding the Legitimate Crypto in Seychelles Government in Seychelles is doing surveys and reassessment to assess the value of this crypto.

This digital currency is traded in countries like America, Australia, the UK and Switzerland.

However, till now, this currency has no centralized system to monitor the Bitcoin trading

Obstacles to License Crypto Trading in Seychelles

Investors who have ambitions to make bigger investments in Bitcoin and XTEM do not satisfy the Seychelles government.

They have no licenses and trading proof.

They operate their e-wallet systems to share cryptos via top exchanges like Coinbase.

Prevent frequency of crypto hacking

Reasons for Changing Law

Fraudulence checking

Stop scam like online bitcoin stealing

New Law to Control Brokerage Exchanges in Seychelles After recurrent attempts of fraudulence made by wicked investors discourage government of that country to permit crypto trading. The crypto currency in Seychelles has no legal obligation. Therefore, recently, in conjunction with financial action task force, the higher authority of Seychelles is planning to do online monitoring to watch the activities of crypto trading exchanges like Binance, BITMEX and Bilaxy. The scam in the crypto trading system should not be stronger. It will become a tree with numerous branches to spread to cover the whole country. That’s why, soon there will be a particular task force to keep tracking crypto deals online.