Deloitte: It’s Too Soon for Bitcoin to be Regulated

[pawel7777]

New publication from Deloitte (one of the 'big 4' firm) on subject of Bitcoin regulation.

http://www2.deloitte.com/us/en/pages/regulatory/bitcoin-at-the-crossroads.html#

tldr: too soon to regulate

Found it on Coindesk:
http://www.coindesk.com/deloitte-its-too-soon-for-bitcoin-to-be-regulated/

[Amph]

the problem is that bitcoin in comparison to other, needs regulation much more to help the growth of its adoption and becoming bigger

and anyway bitcoin is already regulated in some area

[Laketear]

Bitcoin should be let to grow before being regulated.

[Mickeyb]

Antonopoulos has suggested to the Canadian Senate that is hard and that they shouldn't rush to regulate Bitcoin since we must see in which direction this technology is going to. I tend to agree with this and I think that regulations should be very carefully picked, not like the thing New York did.

On the other side, yes people are afraid maybe to invest more of their money into completely unregulated thing, at least this is my guess. This really is a picky topic, but in my opinion, it would be the worst to regulate it too soon and in a bad way and like this suffocate it's growth and progress.

[LFC_Bitcoin]

New publication from Deloitte (one of the 'big 4' firm) on subject of Bitcoin regulation.

http://www2.deloitte.com/us/en/pages/regulatory/bitcoin-at-the-crossroads.html#

tldr: too soon to regulate

Found it on Coindesk:
http://www.coindesk.com/deloitte-its-too-soon-for-bitcoin-to-be-regulated/

I think we all kind of know this any way. Bitcoin is still in its infancy even if others try to make you feel differently. It's going to take years for bitcoin to be where we want it to be.

People need to ask themselves - 'do you have the patience'.

[maku]

the problem is that bitcoin in comparison to other, needs regulation much more to help the growth of its adoption and becoming bigger

and anyway bitcoin is already regulated in some area

What kind of regulations do you have on mind? Do you want bitcoin to bring in line with other payment systems?
Something like adding identity information to bitcoin transactions and making it possible to blacklist funds?

[AtheistAKASaneBrain]

the problem is that bitcoin in comparison to other, needs regulation much more to help the growth of its adoption and becoming bigger

and anyway bitcoin is already regulated in some area

What kind of regulations do you have on mind? Do you want bitcoin to bring in line with other payment systems?
Something like adding identity information to bitcoin transactions and making it possible to blacklist funds?

This would kill Bitcoin's price, people would just dump it, so it's not gonna happen. The devs know it that's, and stuff like confidential transaction are being developed so expect a Bitcoin that only gets harder and harder to track down as time passes. Thought luck for the regulators out there.

[tom555]

yes of course,bitcon need more time for used by everyone. and will be right time to be regulated.

[unamis76]

Won't it always be too soon for it to be regulated?

[Amph]

the problem is that bitcoin in comparison to other, needs regulation much more to help the growth of its adoption and becoming bigger

and anyway bitcoin is already regulated in some area

What kind of regulations do you have on mind? Do you want bitcoin to bring in line with other payment systems?
Something like adding identity information to bitcoin transactions and making it possible to blacklist funds?

first it should be regulated in every place, if they really want to compare it to "telephone" etc...

maybe don't regulate it to forcefully, you can do a limit per year above which you must declare your full income, like in fiat

[Small]

the problem is that bitcoin in comparison to other, needs regulation much more to help the growth of its adoption and becoming bigger

and anyway bitcoin is already regulated in some area

What kind of regulations do you have on mind? Do you want bitcoin to bring in line with other payment systems?
Something like adding identity information to bitcoin transactions and making it possible to blacklist funds?

This would kill Bitcoin's price, people would just dump it, so it's not gonna happen. The devs know it that's, and stuff like confidential transaction are being developed so expect a Bitcoin that only gets harder and harder to track down as time passes. Thought luck for the regulators out there.

It is already possible to blacklist funds, with point of sale like bitpay which keeps a database of the blacklisted coin. It has received negative attention as in most cases, the blacklisted coins isn't related to the current owner. People can just use another POS or create their own wallet to use, reducing the need to use any POS. regulations would help with the bitcoin growth as people would perceive it as being 'legal' since it is regulated.

[Mickeyb]

Won't it always be too soon for it to be regulated?

Well depends what do you consider by the regulation? For example, today's decision of the EU about exempting Bitcoin from a VAT and pretty much considering Bitcoin as a currency with this move is a very welcomed regulation in my opinion.

Some things have to be decided but without restricting progress of the Bitcoin of course.

[techboy2]

I do agree with Deloitte partially at least.