Bitcoin (BTC): Is Crypto Regulation Necessary?

Cryptocurrencies keep getting talked about. Positively or pessimistically, they seem to be the topic of many conversations, especially bitcoin (BTC). Whether in politics, economics or technology, the term crypto is becoming more and more recurrent. However, this expansion prompts reflection on its regulation. Would regulation be necessary? A question that attracts the attention of several experts.

The need for bitcoin (BTC) regulation

For many people, cryptocurrencies are dangerous and should be brought under control. However, crypto assets in a broader sense and bitcoin in particular enjoy a great deal of freedom. Indeed, a bitcoin holder can use it as he pleases and can therefore do with it what he wants.

Because of this, bitcoin becomes a threat to traditional laws. Why ? Because he is going too fast and it becomes difficult for some people to follow him. This starts from the fact that the relationship between regulation and cryptocurrencies is rather complex. Depending on your geographic location, you may come across different regulations each time.

Similar cases have already been observed. In a country like the United States for example, the regulations vary from state to state. As a result, you can enjoy a bitcoin law in Chicago and come across a new regulation if you move to New York.

In such cases, fixed and global bitcoin regulation could be an effective solution to end some of the inconvenience caused by the flagship crypto. For Yankun Guo, older laws are applied in some cases. However, they should be used to promote technological change. But in other circumstances, some politicians use it to reduce innovation and progress.

Bitcoin regulation: useful for the development of crypto?

More and more people are using cryptocurrencies. Whether for international or national transactions or for simple exchanges. The more time passes, the more crypto assets determine their usefulness in everyday life. Thus, bitcoin and all other cryptos attract new supporters over time.

However, the lack of regulation could hurt many businesses that use bitcoin. Several technology companies operate in multiple states. Therefore, for each branch, it would be necessary to adapt to the laws in force. In the case of the United States, the regulations are ambiguous and could be both beneficial and harmful.

For Guo, it’s a double-edged sword. On the one hand, it provides balance and security and on the other, it is subject to strict and severe laws. For her, a regulation on bitcoin is a good thing. Since so far, it has enabled the adoption of the first crypto on a larger scale.

Finally, regulation of bitcoin must be done according to predefined standards. It is therefore necessary to know why it is necessary and what are the best rules. To do this, you have to ask the right questions. Namely: what steps are needed to get there and what is the end goal?

With the expansion of cryptocurrencies and bitcoin, many investors are wondering what to expect in the future. Volatile assets are unstable and difficult to monitor. To do this, bitcoin regulation could be of great necessity for the development and evolution of the flagship crypto. For some investors, increased regulation could promote mass adoption of BTC. And all of this requires understanding and clarity of digital assets.

Source : Crypto Breaking

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Eddy Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. In order to share my experience and make known a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.

We would love to thank the author of this write-up for this remarkable material

Bitcoin (BTC): Is Crypto Regulation Necessary?


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