What Measures Can Be Taken to Combat Unofficial Exchange?
Governments and businesses can implement various measures to reduce the prevalence of unofficial exchange:
Regulatory Reforms: Simplifying and rationalizing regulations can make the official market more attractive and reduce the need for unofficial exchanges. Enhanced Enforcement: Strengthening law enforcement and penalties for those caught engaging in unofficial exchanges can act as a deterrent. Public Awareness: Educating the public about the risks and consequences of engaging in unofficial exchanges can help to reduce demand. Technological Solutions: Implementing technologies like blockchain can increase transparency and make it harder for unofficial exchanges to thrive.