In the recently held North American Bitcoin Conference, Development Capital Group participated and put its opinion on Bitcoin and showed its optimism as well as concern about the digital currency. It said that there is talk about regulations, but some companies are helping the growth of cryptocurrency like Bitcoin while others are hurting it.
The major motto of the company was to meet with many of the leading people in the industry on cryptocurrencies which it did and explore the idea of Bitcoin and other digital currencies. In its press release issued later, Development Capital Group said that it received a lot of opinions on the future of the market.
The company also published an article called “Bitcoin Arrives” which went over cryptocurrency from a historical and ideological perspective by highlighting some key information in the industry. Development Capital Group says that it looks like people are moving past the idea that these cryptocurrencies, like “Bitcoin,” will be used for illegal activity.
To give impetus to its idea the organization cites several examples; for instance, it was a payment processor, a merchant, a banker, or a government official, each had their individual opinions about how to properly handle it. Though the company is optimistic that the United States government will come in and regulate it, it is concerned about the talk that it is a temporary thing and going away.
Bitcoin Will Grow Amidst Concerns
Development Capital Group believes that the latest developments in the Bitcoin economy in the U.S. are promising. For instance, in New York, the Bitcoin community met with regulators to negotiate how to handle this new form or system of payment. Also, there was talk that the New York Department of Financial Services discussed about “BitLicense.”
BitLicense according to the sources is a potential requirement since the digital currency exchange platforms that are popping up are now deemed “transmitters of money.” Here the company will be treated as transmitter if it is accepting a fiat currency into Bitcoin, and exchanging it among users as well as different currencies.
Development Capital Group says that this is a place where the government is required to regulate how these transactions are handled. It says that other than regulation, it’s important to watch how companies are reacting to this lack of government oversight.
The company seems optimistic as more governments are opening up to digital currencies, and a lot of support is being seen from big companies.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org