Cameron Winklevoss Backs Bitcoin’s Regulation

Coinsetter to Provide a New Bitcoin Trading Platform for Online Traders
Coinsetter to Provide a New Bitcoin Trading Platform for Online Traders

It sounds like one of those characters from a war movie, who thinks that enough violence has been done and must stop this very second. Fitting the traits of such characters perfectly, Mr. Cameron Winklevoss,who along with his twin Tyler had invested $11 million for Bitcoin startups few months back, has openly backed the regulation over bitcoins.

The co-founder of Winklevoss Capital Funddiscussed this hot topic during one of his interfaces at the NExT conference entrepreneurial event in New York when he sincerely explained how bitcoins can be benefitted by its regulation. He discussed how the currency has recently in between controversies for being used in criminal activities, the agenda at which US financial authorities have taken major steps and suggested a proper regulation to stop its misuse. “I don’t want to facilitate bad uses of money as much as anybody else. So I don’t really have an issue with that”, said Cameron.

The on-going tussle between the Bitcoins and US government authorities has been taking new turns since the FBI’s internal report alarmed its concern over the illegal activities happening around this virtual currency, such as money laundering, drug trafficking, illegal betting, etc. The American government then took major actions against Bitcoins – one of them is their seizing of a payment processing account of the largest bitcoin exchangers and traders Mt. Gox.

Although, the battle between the US and the Bitcoin seems not to end, as the latter is also getting strong support from countries like China and Canada, but its overall regulation may bring a relief to thousands of those who are still counting on Bitcoins to emerge as the next best currency. Glad Mr. Cameron Winklevoss initiated at least.