The rise of cryptocurrency is too widespread to ignore, and too chaotic for governments to ignore. All over the globe, governments are targeting crypto investors by imposing taxes as well as mandatory registration and full disclosure rules. This new wave regulation is a contradiction because some of the most important characteristics of cryptocurrency have always been autonomy and privacy.
Questions concerning State Regulation of Crypto Raises with Shelter Crypto
Australia’s registrations of 246 cryptocurrency trading platforms between April 2018 – January 2019, which was celebrated by both observers and the exchanges as boosting industry credibility, is likely to indicate the direction virtual currencies are moving in regard to regulation.
Some industry leaders view regulatory encroachment in a positive light as a step towards respectability. The cost of assimilating into the mainstream economy through state regulation is increasing, which raises existential questions about the future direction of the industry.…