When will Government regulators really start passing clear Crypto laws?

in #regulation7 years ago

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We are in the wild wild west of cryptocurrency and blockchain technology. Lawmakers don't know how to handle all the ICO's (Initial Coin Offerings), ITO's (Initial Token Offerings) and cryptocurrencies flooding the market. As more and more people keep jumping in the regulators are scrambling to pass laws and here in the United States the SEC and other regulatory groups are starting to take notice. In addition to the SEC, each state has it's own version of the regulatory body. Some states are ahead of others, but most really don't know how to treat or regulate cryptocurrency. I see this changing rapidly over the next 12-24 months. We have also seen South Korea and China start to really crack down on cryptocurrency exchanges and ICO's.

The Russian government and regulatory bodies may have a different stance on cryptocurrency as they announced they will accept the Chinese mining companies with open arms. Cryptocurrency mining is another industry the regulators around the world are looking at. From environmental impacts, to power consumption, to taxation these are all top concerns of governments and regulators.

No one knows how this will all shake out, but it's coming and things will really change over the next couple years. I believe cryptocurrency is here to stay so we will all need to learn to work with it and adapt to change.

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