[2014-03-20] Video Bloomberg - Regulation Will Support Virtual Currencies

[LiteCoinGuy]

Regulation Will Support Virtual Currencies

http://www.bloomberg.com/video/cohen-regulation-will-support-virtual-currencies-WJJdkFdPTxemGaHivNvMhg.html




LiteCoinGuy

[1714998428]

1714998428

[roslinpl]

I am afriad to watch this after I read a title
(...)regulation-will-support-virtual-currencies...

Some say regulations are not needed.

Some say cryptocurrencies were best when gov was not thinking about them

Some say his name is Stig.

Thanks for sharing this link!

[LiteCoinGuy]

China released some infos today and also will do that in the next days.

Bitcoin will not exist without almost every country in the world regulating it somehow. It simply won't happen. Bitcoin currently moves .25 billion a day. In a few years it's moving billions a day. Governments simply won't let that happen without any oversight due to AML and Capital Control motivations. Sure, they can't ban bitcoin, but they could easily criminalize it. (e.g. exchanges, merchants, payment processors, banks will be shut down if they touch bitcoin).

Now, obviously that's not going to happen, but no-regulation isn't happening either. It's best for the bitcoin community to have regulation happen sooner than later. We're ready for it. Governments understand its importance, banks seem to understand its importance, investors are ready to invest, companies are ready to work with banks, exchanges are ready to launch, the only thing holding things back is regulation.

While I'm not a fan of harsh regulation, some regulation will happen, just like gummy bears are regulated. I'm glad steps are being taken and clarity is being built. Listen to bitcoin investors, companies, CEOs, VCs, they've been waiting for this.