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However, Bitcoin is not only a trendsetting cryptocurrency, but it has also brought about a new wave of cryptocurrencies built upon a decentralized peer-to-peer network. Best Crypto Presales to Date All Taxes

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Clear legal frameworks are also essential. Central bank–issued digital currencies will likely require adaptation to central bank law and monetary law. And public law must clarify the legal status of privately issued money. Should new arrangements be treated as electronic money, bank deposits, securities, commodities, or something else? Answers to these questions will have enormous bearing on the development of digital money. For instance, classifying a form of digital money as a security will significantly complicate its exchange, given the complexity of securities regulation. The CoinCodex Cryptocurrency Price Tracker A cryptocurrency may also be created by modifying or establishing a fork (a network split) in the source code of an existing blockchain, and building the currency from the new blockchain established. The process can be thought of as using existing code as a template, and editing it to personal liking to create a completely different blockchain experience and cryptocurrency. Some blockchain code is even open-source, making this option accessible to users who want a say in development but have less coding experience or funds.