Firing Shots In The Dark

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They will sell you the story regulation is all about preventing crime (laundering) yet this is more about taxes and holding back mass adoption.

Have you noticed that the majority of regulation announcements are full of hot air and actually don't specifically mean very much. The problem is these are still proposals and are not set in stone as law. A good thing really as this clearly shows 99% have no clue what they are regulating and there is no real movement.

Today I read 3 articles regarding regulation in 3 different countries and I am still none the wiser why the article was even written. Regulation news is when something concrete is on the cards and this apparently is more about government departments looking like they are doing their job and not much else.

I can recall politicians using the media back in the 90's using spin by leaking a story and waiting for a public reaction. If the reaction was positive then they would claim the idea as their own and if negative say it was all lies and not their doing. I see crypto regulators in the same boat as they are not sure what to do and is purely a guessing game.

We have the common terminology "wen" in crypto and the "wen" regulation is "wen" it happens and by all accounts not too soon as this has been going on for years now. This is not a bad thing to be honest as the longer they take the more the technology develops leaving regulation behind.

Lately most of the regulation has been around stable coins which is an obvious sector due to the proposed launch of Central Bank Digital Currencies and they don't want to be up against a whole host of stabelcoins.

The UK announcement today made little or no sense with their proposal stating that they wanted to have guidelines limiting banks to crypto exposure. The proposal was that banks could not have more than 1% in digital assets so where does that leave the CBDC's when they arrive as they are also digital?

I can eventually see every country following one set of rules/regulations after many trial and errors along the way. Surely common sense has to take over at some point as there is no ways they can regulate this industry without the knowledge required. Crypto has to be treated differently as too much regulation will impact technology and development in the crypto space which will have a negative impact driving everything underground.

The good thing about this group who are making decisions on everyone's futures is that every year this goes by the crypto sector is getting stronger and bigger making it even more difficult to regulate. At some point we will have millennials in Government positions and they will be pro crypto due to having stake. This mindset we see currently is still the old guard trying to protect what they have and we know this cannot last forever as the world is changing at speed.

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I think CBDC's are inevitable as most every country seems to think they are a good idea or necessary. What happens beyond that is anyone's guess!

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At some point we will have millennials in Government positions and they will be pro crypto due to having stake.

I believe so too

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I believe that as you say, with the passage of time and the change of generations of governments, the positions regarding cryptocurrencies will also vary.

Surely the position of these is getting stronger day after day in my view, following what I believe is a natural process.

Let's hope for an ever better future, from all points of view, the world still has many steps forward.

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