"He also answers the reluctant senator who thinks it is not possible to regulate Bitcoin because of its intrinsic properties of anonymity and decentralization. Allaire just thinks that the regulatory mechanisms that apply to all other forms of payment are readily applicable to Bitcoin from the time where we have a real international collaboration. In addition, security and trust is not an obstacle because the Bitcoin protocol naturally allows transparency. Audits can be conducted as is the case for traditional banks. He noted, however, that not all nations have the same willingness to participate in this international effort that shall lead to regulation. Unlike Japan, the United States is very likely to regulate companies operating Bitcoin, probably because they want to be pioneers. The recent hearings led by Ben Lawsky are very encouraging example in this area."
I can only role my eyes at the stupidity on display. Allaire is in authoritarian dream-land, and has next to zero understanding of cryptocurrencies.
