Does Bitcoin Need More Regulation?
Despite the great appetite for Bitcoin by millions around the world, it is still a theoretical resource that is not available for use in the real world, so it needs only more regulations and controls.
I know that my words may resemble those of governments, but unfortunately this fact is not saying that we convert it into a central currency, but .....
Bitcoin should be controlled globally, with the understanding that Bitcoin is a theoretical resource to be managed.
Bitcoin is a theoretical resource that has done some conversion demos and some intriguing illegal tax avoidance exercises that are absolutely unforgivable.
Bitcoin's scandalous action has been unambiguously demonstrated by past and current forensic checks.
Just one month ago, Italian police arrested the CEO of digital money trading "BitGrail" and blamed him for laundering $ 2 million in digital money.
There should be guidelines:
This must be applied and settled at the global level because, assuming unorganized areas exist, they will be used for escape there.
There is a prerequisite for global participation and multilateral activism, be it G7, or G20 activity, and subsequently its development.
It is something to take care of.
The G7 countries, which include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, are trying to manage the cryptocurrency market, as shown in a confirmation provided a month ago.
In addition, a representative of the US Treasury, Stephen Mnuchin, previously asked about the need to administer mixed advanced monetary standards.
Noting Bitcoin's new bullish development, which has pushed the money value up from $ 10,500 at the start of October to its highest of nearly $ 42,000 this month, Bitcoin is a theoretical resource.
For individuals who have accepted Bitcoin into cash this is unfortunately a theoretical resource.
Despite the massive additions some have made, Bitcoin is a resource with risks, as no guarantor can be distinguished, adding that this illustrates Bitcoin's changes.
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It seems to me that bitcoin is proving that, if a system has a sound logical structure, it does not need government regulation.
Most regulatory regimes end up captured by a ruling elite. Regulators tend to regulate in a manner that focuses the benefits of a structure onto their friends and the costs onto the people at large.
Bitcoin presents a future where code is king. When code is king, one does not need the captured regulators.