21 Feb '16, 11am

European Council’s Bitcoin Regulation: Blessing or Curse?: The regulation of virtual currencies by the Euro...

European Council’s Bitcoin Regulation: Blessing or Curse?: The regulation of virtual currencies by the Euro...

On the demerits of regulation, Jonathan’s opinion is that the down side is if regulation is too harsh, like in a situation where there is too much regulation, users will move to underground exchanges, dark markets , and decentralized exchanges to avoid the costs that have been passed on to them through regulated entities. This will result in these unregulated markets flourishing while entities attempting to follow the rules will wither away, which would likely have the opposite affect of what is wanted, which is less money laundering and more consumer protection. He mentioned an example of regulation that goes too far as what can be seen in Estonia . Saying that currently, there is a decision being made as to whether facilitation, mediation, buying or selling of bitcoins on behalf of another is considered an alternative means of payment and warrants getting a local license...

Full article: http://cointelegraph.com/news/european-councils-bitcoin-r...

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