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>I don't think governments care to (or can) regulate it China has literally banned Bitcoin. Their approach is to roll out their own digicoin. Governments have
by yborg 5y ago
>I don't think governments care to (or can) regulate it
China has literally banned Bitcoin. Their approach is to roll out their own digicoin.
Governments have been very slow to figure out how to approach crypto, but the current Wild West of tax evasion, money laundering and virtual bank robberies won't go on forever. Just like counterfeiting and money laundering exists today, there will continue to be exploitation of the financial system, but it will be explicitly criminalized.
- dvt 5y ago> China has literally banned Bitcoin. Their approach is to roll out their own digicoin. China "banning" cryptocurrency is a meme at this point (I think they've banned it 4 times now). > Wild West of tax evasion You literally cannot evade taxes, so I'm not even sure what this means. All US exchanges report everything to the IRS/SEC. And if the exchanges don't, your bank certainly will. Moving money in your bank account and not reporting it as income is a big no-no so good luck to anyone that tries to do this. > Just like counterfeiting and money laundering exists today This is kind of a faulty analogy, it's not like cash is banned, and most of those things are done with cash. People seem to like crypto markets as a speculative instrument. Is that good/bad? I don't know, but it's probably here to stay.