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Whether you like or or not, regulation is coming.
@robjohn I think you are focused on the wrong side of this. It's not "terrible news" for all alt coins. It's just part of evolution of new tech. in the 1600 Dutch Empire brought us the very first Corporation, industrial revolution created the concept of what we now know as "employment" (before then about 20% of population were employees, the rest relied on other means of living: farming, making coffins... you get it). Corps are regulated. Employment laws were written etc. Regulation will always follow after general public gets rugged (to use NFT terms today).
True decentralization would create unique problems. But let me tell you this - it's never as good ar as bad as we think. Regulation won't solve the theft problems. And decentralization won't save the world either.
What is the conclusion here? Just like the internet in the 1990s was free and decentralized, today we have crypto based tech (web3) producing similar but better effect. Government won't be able to "regulate" decentralized platforms that are peer to peer based. But they can regulate the centralized groups that launch such platforms! And not all of that regulation will be 100% bad. It depends on WHAT they do, not IF they try to regulate. An outright ban making any participation in crypto illegal would throw all alts down the floor. But I think this is unlikely for the USA. It's a China/Russia type of move.
@robjohn I think you are focused on the wrong side of this. It's not "terrible news" for all alt coins. It's just part of evolution of new tech. in the 1600 Dutch Empire brought us the very first Corporation, industrial revolution created the concept of what we now know as "employment" (before then about 20% of population were employees, the rest relied on other means of living: farming, making coffins... you get it). Corps are regulated. Employment laws were written etc. Regulation will always follow after general public gets rugged (to use NFT terms today).
True decentralization would create unique problems. But let me tell you this - it's never as good ar as bad as we think. Regulation won't solve the theft problems. And decentralization won't save the world either.
What is the conclusion here? Just like the internet in the 1990s was free and decentralized, today we have crypto based tech (web3) producing similar but better effect. Government won't be able to "regulate" decentralized platforms that are peer to peer based. But they can regulate the centralized groups that launch such platforms! And not all of that regulation will be 100% bad. It depends on WHAT they do, not IF they try to regulate. An outright ban making any participation in crypto illegal would throw all alts down the floor. But I think this is unlikely for the USA. It's a China/Russia type of move.
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