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December 23, 2015, 07:30:36 AM |
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I've been reading about all the anti-cryptocurrency laws that are being suggested. Most of the definitions and described practices seem to relate to conventional banking practices. They create money with no underlying asset value, and they store it electronically. Transfers are also electronic, and related to other accounts with no asset backing. At least there is a limit to the creation on new Bitcoin wealth, this doesn't seem to apply to Gevernments or banks. So my postulation is that any law to ban crypto-currencies with make much of conventional banking illegal.
Please explain why this is fallacious if you believe it to be so.
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