Who Will Win The War to Regulate Bitcoin?
Regulation seems to be a sensitive word when you speak with anyone on either side of the debate but Wired Magazine has a very interesting article (below) with some very good views on both side of the fence. Anarchy or Dictatorship – is there no middle ground? – Check out the article below and make up your own mind…
Earlier this year Benjamin Lawsky, New York’s financial services superintendent, said he intended to initiate the biggest move towards regulating bitcoin.
Lawsky told CNN Money that he planned do this by administering “BitLicenses” to companies dealing with bitcoins, allegedly to protect the public from fraud.
Given the government’s track record on managing finances, including simple tasks like balancing a checkbook, the notion the government is either trustworthy, or competent, to successfully carry out such a task is debatable; some might say laughable.
Requesting exchanges provide potential users with facts regarding risks seems reasonable, but to insinuate government regulation is necessary to gain consumer trust is reaching.
A group of coders, including Cody Wilson, the mastermind behind printing 3D weapons, and Bitcoin project developer Amir Taaki, may be just one step ahead of the government when it comes to tracking the digital currency.
The Financial Crimes Enforcement Network, however, did respond to Wired Magazine stating they are, “well aware of the many emerging technological efforts designed to subvert financial transparency. It’s certainly our business to be interested and vigilant with respect to any activities that may assist money laundering and other financial crime
Via bitcoinmagazine.com
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