[2018-1-15] WHY CRYPTO REGULATION SHOULD NOT MEAN PROHIBITION

[casparthefriendly]

Blockchains and cryptocurrencies are here to stay, and banks and governments are concerned. With the momentum that the budding markets have built in recent months, digital****ets like Bitcoin, Ethereum, Litecoin, and Ripple have become household names. However, crypto regulation does not necessarily have to mean prevention if it can be approached in the right way.

In recent weeks, news has emerged of steps concerning crypto regulation taking place across the world, most significantly in Asia where the lion’s share of crypto trading occurs. Fake news and fearmongering of a complete crackdown in South Korea washed across the internet last week, causing a mass selloff and slumping markets.

http://bitcoinist.com/crypto-regulation-not-mean-prohibition/

[CryptoBry]

Ideally speaking, the cryptocurrency world and market do not need regulations especially coming from the government which cryptocurrency is really resisting in the first place. The problem is that the sovereign power rests on governments and there is nothing we can do about. Another problem is that human nature will always be here so that there can be abuses and imperfections. Flaws can partly be remedied by regulations coming from the government. Cryptocurrency can not be living in a vacuum so it would be better to compromise and work hand-in-hand with the government so no needless friction can happen. The big lesson we have learned from the China debacle should be guiding us. Regulation is certainly much better than banning.