The legal framework for Bitcoin is still coming and this is actually not something we should be surprised about. Bitcoin is still relatively new and it is subject to many discussions and fora before something can be enacted. I would prefer that the government would take a good walk with Bitcoin first before making any law regulating its use so things can be fair and will not nip its bud, so to speak.
In the coming years, assuming that Bitcoin will continue to be the top cryptocurrency and that blockchain technology adoption can accelerate, I predict that we can have this legal framework you are talking about. For now, let's get contended with sometimes confusing and contradictory regulatory announcements.
The road to Bitcoin adoption and in making it part of the mainstream financial culture can be daunting and can be full of humps so we have to be prepare for the ride.
Topic: Legal framework right now: a joke? (Read 534 times)
The U.S. Government always lags behind changes in the internet landscape, and Bitcoin is no exception.
By the time they make a regulation on point X in cryptocurrencies, point X will have long been reduced to ashes by point Y. Thus making the regulation pointless and antiquated on the day it was instituted.
By the time they make a regulation on point X in cryptocurrencies, point X will have long been reduced to ashes by point Y. Thus making the regulation pointless and antiquated on the day it was instituted.
so far i've seen no real fiscal policy, conflicting statements from federal bodies and only 1 ongoing court case in the US about how legal protections will be handled.
thoughts anyone?
thoughts anyone?
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