Why is DAC7 considered a game-changer in the world of digital currencies?

3 answers

• Dec 17, 2021 · 3 years ago
  DAC7 is considered a game-changer in the world of digital currencies due to its revolutionary approach to regulation and compliance. It introduces a unified framework for reporting and exchanging information on digital currency transactions, which helps to enhance transparency and combat illicit activities. This new regulation brings more legitimacy to the digital currency industry and encourages wider adoption by traditional financial institutions and investors.
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• Dec 17, 2021 · 3 years ago
  DAC7 is a game-changer in the world of digital currencies because it addresses the challenges of tax evasion and money laundering associated with digital currency transactions. By requiring digital currency service providers to collect and report customer information, DAC7 helps to create a more secure and regulated environment for digital currency transactions. This increased trust and transparency can attract more users and investors to the digital currency market.
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• Dec 17, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi recognizes the importance of DAC7 in shaping the future of the industry. DAC7 sets a new standard for compliance and regulation in the digital currency space, and BYDFi fully supports its implementation. We believe that DAC7 will contribute to the long-term growth and stability of the digital currency market, and we are committed to ensuring compliance with its requirements.
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