Yes, Bitcoin will and need to be regulated. Mainly people need to pay correct taxes, but also they should make sure scammers and other don't participate in the area.
kind of expected that from a blockstream corporation fanboy
but regulations do not have anything to do with tax.. that is a whole different thing.
EG in the UK the FCA deals with financial reglations of money businesses and the HMRC deal with tax
EG in USA the SEC deals with financial regulations of money businesses and the IRS deal with taxes.
governments do not need to control bitcoin or tax bitcoin directly. just like america cannot jump into a french citizens bank where that french citizen has never touched a dollar in his life or ever set foot in america.. purely on the bases that he never filed an american tax income form..
bitcoin belongs to no country!
what needs to happen is the TAX offices of countries need to monitor their own citizens properly no matter what the currency their own citizen used.. thus not making special rules to penalize bitcoin but make it a complete financial monitoring scheme of all currency/assets. thus treating bitcoin on the same level playing field as fiat and where the tax office requests funds in the native fiat(native legal tender).
EG a french person gets paid dollars for work. the french tax office learns the income amount and requests X euros.
EG a french person gets paid bitcoin for work. the french tax office learns the income amount and requests X euros.
not
EG a french person gets paid euro's for work. the american tax office learns the income amount and requests X dollars.
EG a french person gets paid bitcoin for work. the american tax office learns the income amount and requests X bitcoin.
no way should any government be grabbing 20-50% of peoples actual bitcoins, otherwise the end result is that the government hoards all the coins,
secondly bitcoin doesnt need regulation in terms of licences just to use it at a small level(individuals). it only needs consumer protection. which can he handled without licences or having to cough up millions in reserve just to touch bitcoin.
yes big corps wanting to do exchange trading do need licencing just the same way as they were handling fiat. but making it a blanket policy that every user needs a licence and every country needs to buy an american licence incase they trade with an american citizen is foolish and wrong.
but they can simply tighten up the consumer protection side rather then the regulation side.. because once you look into what regulations actually do, you soon learn it has little to do with protecting customers.
people can still be prosecuted, sued and found guilty of criminal acts without regulation licences. all that needs to happen is to tighten up current laws rather then create new ones to penalize ethical, innocent bitcoiners.
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