The legendary “Satoshi Nakamoto” designed Bitcoin to free people from the demands of government regulation.
However, while many governments are researching and embracing the blockchain technology behind Bitcoin, and Venezuela is even planning to introduce its own blockchain currency based on its gold and oil reserves, other governments have, predictably, reacted with hostility. So far, the United States government has welcomed the innovation, but made it clear that it will not tolerate the use of Bitcoin or other cryptocurrencies for illegal purposes, such as the Silk Road marketplace for controlled substances. And the IRA says that profits realized through the buying and selling of cryptocurrencies is taxable as capital gains. Read more about Jeff Yastine at investmentu.com to know more.
In short, governments show no sign of going away. President Trump has eliminated some business rules and regulations, but many still remain. And some companies see the situation not as a problem, but an opportunity. These new companies specilize in helping other companies stay on top of their legal compliance issues. Now obeying the legal rules is not just the specialty area of lawyers, but of an entire emerging industry in the high tech world. It’s called regulatory technology, or Regtech. And it’s a hot, little-known area for savvy investors to make money in.
Jeff Yastine joined Banyan Hill Publishing in 2015 as an editorial director. Before that, he spent two decades as a financial journalist. He was even nominated for an Emmy award while he was correspondent and anchor on PBS Nightly Business Report. Now he edits the newsletter Total Wealth Insider for Banyan Hill, where he writes about value stocks that are close to taking off in price. He writes every weekly for Sovereign Investor Daily and Winning Investor Daily, two other Banyan Hill publications. Follow Jeff Yastine at stocktwits.com
The regtech companies use such tools as advanced software, blockchain and artificial intelligence. He’s identified 80 companies in this emerging new field. They are especially active in the most highly regulated fields, such as insurance and banking. Most of them are still privately held startups. International banks must deal with extensive government regulations in many different jurisdictions. These regulations require a lot of paperwork and controls designed to stop money laundering and corruption. They will spend $70 billion this year to ensure their compliance, and that will grow to $120 billion within three years, so this is a major market.
In the years I was a financial journalist, it always surprised me how reluctant many of us are to invest outside our country’s borders…#stocks #StockMarket #investing #BanyanHill #WallSt #WallStreet #tradinghttps://t.co/WFzWkyc0Cb
— Jeff Yastine (@Jeff_Y_Guru) January 23, 2018
And the regtech companies can keep the banks up to date for $300,000 instead of the $10 million the banks spend issuing their own legacy systems. Learn more:https://banyanhill.com/expert/jeff-yastine/