As a fifth and last post on this blog series regarding blockchain, Stein IP introduces “Regulating Blockchain: A New Challenge for Society” As known and explained on our previous posts, Blockchain is a growing technology that promises to streamline processes, clarify transactions and avoid third parties interventions and costs. Moreover, it’s better known as the platform where Bitcoin and other cryptocurrencies are processed, which triggered governments and regulatory agencies to realize that a lot of the money involved in financial transactions worldwide was carried out using these kinds of digital currencies. Along with this, in some cases this money was used to fund certain illegal activities. Due to this, countries all around the globe have started issuing regulations to control Blockchain technology. Below there are some examples of regulations in different countries on Blockchain technology: European Union On May 25, the General Data Protection Regulation (GDPR) issued a regulation that allows users to delete personal information on a Blockchain network.
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