every country has regulation Japan Legalize crypto while China Ban. This contradictiv? is it possible International regulation for cryptos?
Joachim Wuermeling, a member of the board of Germany's Bundesbank, has suggested that any attempt to regulate cryptocurrencies would require international cooperation. Speaking at an event in Frankfurt on Jan. 15, the director told listeners:
"Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited.”
That's correct as in so far that a single country will never be capable of regulating cryptos. It can try, but it won't do too much. And regulations too strict or outright bans will simply cause a capital flight into countries with laxer regulations and lower taxation.Joachim Wuermeling, a member of the board of Germany's Bundesbank, has suggested that any attempt to regulate cryptocurrencies would require international cooperation. Speaking at an event in Frankfurt on Jan. 15, the director told listeners:
"Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited.”
The countries who try to shut down or overtax people now will be the losers of the next industrial revolution. Just don't worry about it and be ready to expat and move to a better country if yours gets too greedy. That way the world will eventually become such, that all citizens will have a decent life without getting bent over by governments, central banks and monopolistic and just outright too large corporations that abuse their power (see Google, and literally all of social media).
