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October 17, 2012, 03:52:28 AM |
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The biggest difficulty in finding BTC related laws is that BTC's position is higher than any government issued money, it is global
Current laws seldom go over country border, due to the difference in culture and constitution. For example the interbank market is not regulated, it is purely banks' playground
Same as internet, at international level, it is very difficult to regulate, the only thing people can do is protecting themself from being harmed, and benefit from the best of it
For example, chinese government set a stop to all youtube clips (so called ideology control), while another country will see no reason for that, and chinese people lose lots of useful information in this practice
Same, one country can stop BTC, but they also miss the big opportunity brought by this new medium of exchange, and who knows the first country who officially supported BTC (Iceland) will become a robust country in finance since it got rid of banks' control
BTC do not conflict with local currency, it just added another choice, which suit inflation-hating people's taste
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