How Will US Regulate Bitcoin and Cryptocurrency?
Cryptocurrency is and was a promised land for everyone tired of regular banks, regulations from the government and checkups of any sort. It was decentralized, anonymous promise land that is somewhat changing.
Crypto is still in rage but some changes are happening and not a lot of people are loving that. As we managed to find out crypto companies are currently coming under a heavy SEC investigation. There is no big secret that crypto companies and SEC do not exactly love each other, and that is a big problem since SEC is constantly trying to find a way to regulate crypto by labelling these lending products as “securities”.
With the changes and with the pressure governments are trying to put on the crypto and the crypto companies, we will see a lot of changes that will affect the entire industry. What exactly will those changes imply, we will try to answer in this article today.
Bitcoin or any other crypto out there have to compete with the well-established currencies we have across the world. For that to succeed it must convince users to stop using FIAT or government-issued currency for their regular transactions.
The problem here is that governments are not that keen on losing market share to private alternatives which is why we have this ongoing “war” between crypto and government regulation, but you can find out more on that.
Now since we have established an intro part and since we informed you about the hassle that Bitcoin and other cryptocurrencies are in, let’s try and explain what are the ways that the US government can regulate these. Now by all the popular opinions, we have three possible ways that Bitcoin and other cryptocurrencies can be regulated and we will list them below!