The federal government is no match for innovation. This is something lawmakers have always known, and it is the reason state and federal regulations exist. But innovation, by its very nature, will always find a way around those regulations, resulting in the implementation of more regulations for creative minds to learn to evade — which they will. This results in the over-regulation we see in America today.
Nothing scares the government more than something it can’t control, and the Securities and Exchange Commission (SEC) revealed this week that it is terrified of cryptocurrencies — as well it should be. See, all those lawmakers and bureaucrats sitting around regulating everything depend on taxpayer money to pay their salaries so they can keep writing regulations. Since cryptocurrencies allow people to keep all of their money, this is a big problem for the lawmakers. Soon, people may even start to realize they can buy, sell, and trade freely without any government intervention
The truth is out there
So what are you doing here? Just one day short from a year ago, I asked people if 70 million dollars (or somewhere around that number) that got stolen at Bitfinex back in the day was enough to go for a decentralized exchange working on the blockchain level. Most people (if not all) agreed that it was more than enough. Nothing has been done so far, though, and it seems that we should have waited until the government finally decided for an ultimate offensive against cryptocurrencies. Is this not enough to actually implement blockchain exchanges now when we have the technology for close to real time transactions?
