The question arises because of the recent happenings like the fall of bitconnect and the government getting involved in the whole situation.
Perhaps the biggest issue as we see the crypto economy evolve is that there is no form of authoritative power.
We don’t have entities that regulate anything as we are dependent on the system we are in to monitor itself.
This all gives governments enough reason to poke their long noses into the crypto economy and try to establish control.
Where will we be with this 2 to 3 years from now?
It is looking more and more likely that in the future the surviving cryptocurrencies will be hybrids where regulated cryptocurrency serves under strict government control.
We know that in a few months certain governments are going to meet to discuss this issue, especially pertaining to anonymity and regulation.
In a world where you can get away with murder but not tax evasion; a world where you can get jailed without trial for alleged terrorist inclinations. I hear governments use both terms when it comes to the crypto economy and that is scary.
Seeing how rapidly decentralized economies are growing the government does not really have a choice but to implement rules and regulations that will effect even how ICOs are supposed to be launched, what criteria they must meet and so on.
Is regulation that bad? I mean, it rids us of all the Ponzi schemes, criminals and those who crowd up the place and give it a bad name?
Regulation is a good thing, true. But the crypto community must come together and have consensus on certification criteria that cryptocurrencies must actually meet.
There has to be a body overseeing that! As long as that is not regulated properly done by us, the government will come in to play. It’s just a matter of time.
It’s gonna be difficult because crypto is growing too fast. But difficult is not impossible.
You see some governments like in The Netherlands, the government is very interested in the blockchain technology and want to integrate it into their system.
They see the benefit of it in tracking fraud and peoples digital footprints.
An all-out government raid may not be imminent but it is inevitable as they are the law and have the power to pull the plug.
The crypto will hit the trillion dollar mark this year and with that, the perverse government’s long hand of law is lurking.
So fellow cryptomaniacs let’s get organized or get centralized by the government.
I may have mentioned things you do not fully agree on, and some that you definitely like.
I am excited to read your views in the comments.
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