Crimes Related to Cryptocurrency and Regulations to Combat Crypto Crimes

Abstract

In recent years, cryptocurrencies' economic application and speculative value have soared. Cryptocurrency is being used as a means of trade, even in Pakistan. The government does not legalize it, but it is traded like many other states. Globally it causes fraudulent investment schemes. Cryptocurrencies are speculative, as the dot-com boom of the 1990s. Even though these organizations lacked a product, business plan, and profit potential, the stock market was eager to invest heavily in internet-related companies. A few years later, a dot-com catastrophe ended an era of unjustified and speculative online firms. The gold rush occurred much earlier. In the 1800s, people worldwide sought their fortune in the U.S., Canada, and Australia. They rapidly understood that mining a significant gold stake was dangerous and unlikely to succeed. In 2021, cryptocurrencies will become the dominant form of money. 2021 was the landmark year. Bitcoin became the new gold rush and caused online fraud, known as cryptocurrency fraud. We will examine cryptocurrency, crimes, laws, and regulations to combat crypto crimes.