2018 will be the time of Cryptocurrency Regulation, however, is that a terrible thing?
Numerous have anticipated that 2018 will be the year regulations get well and genuinely included the developing digital currency advertise. So far, that admittedly seems to be the case.
Regulation Is Here, Is, is a Bad Thing?
In the interim, financial authorities in Germany and France have called for a global crackdown on digital currency, while Japan as of now has regulations in place which require cryptocurrency exchanges to be enrolled and maintain specific measure about security lest they are close down.
Naturally, regulation in the decentralized, unstable, and unregulated cryptocurrency market has been bound to happen, and surely shouldn’t astonish anybody.
As verified by Roman Guelfi-Gibbs, CEO of Pinnacle Brilliance:
“Crypto has long been the home of rebels, anarchists, and libertarians. Of course, as crypto gained notoriety, it was bound to attract investors and mass public interest. When the public gets involved, and market cap reaches a certain amount, the government always steps in under the banner of looking out for customers and fighting criminal behavior.”
Regardless of whether government regulation of the digital currency market is high or not, however, remains an arguable topic.
A few people trust market regulation is eventually a good thing, as it legitimizes cryptocurrency and, in turn, draws fresh money institutional investors.
According to Andrei House, CEO of WealthMan:
“As a result of this, Digital currencies will receive more recognition. Interest in the Digital currency will increase. At the same time, the regulatory norms regarding enforcement will not be effective because of the inability of the judicial system to make adjustments to the blockchain-based registry.”
However useful regulation will be, it would almost certainly help deter at least a modicum of fraud and scams. Said Guelfi-Gibbs:
“We know that crypto has had more than its share of scams, so regulations will help to stop such things from happening. Without proper regulations, institutional investors will stay away, and mass adoption will not happen. So, some regulations could be helpful for the sector to reassure investors and the public.”
Still, that doesn’t mean regulation has all the answers. As Guelfi-Gibbs notes:
“The problem that must be avoided is the stifling of innovation due to heavy-handed regulation. We will have to see how this pans out.”