ForexMinute.com – As the anonymity-offering services are getting bigger in the cryptocurrency sector, the government’s capability of successfully regulating Bitcoin and altcoins is doubtful. There have been no reports of any financial advisory bringing this topic forth and discuss it on a broader scale.
On the other end, there are few companies like Global Advisors that are at least putting some honesty in the business. The Jersey-based hedge funding company has initiated a Bitcoin Investment fund that would be the first one to have regulated by an official body; in this case, Jersey Financial Services Commission. The operation is scheduled to start from August 1.
This move will inspire some of the major investors, including the insurance and pension companies, to invest in Bitcoin without any doubts in mind. This means a progression for this digital currency in an actual environment where companies will be allocating definite investment plans, in absence of the usual financial risks involved with Bitcoin.
Meanwhile, to maintain the concept of regulation, governments should not simply rely on the companies or investors to turn honest overnight. A sense of relief has to be given to Bitcoin users in the form of tax exemptions or subsidies. It is clear that most of the Bitcoin investors prefer to keep themselves away from any kind of regulation. There is a sense of democratic-income inside the cryptocurrency market, which has ultimately led to the launch of Dark Wallet and some anonymity offering cryptocurrencies as well.
To battle anonymity, governments just need to be simple and unbiased towards cryptocurrency users. More flexibility will certainly attract businesses/individuals to conduct safe trading. Nobody is born to cheat, until you force them to the position of becoming a cheater.
What’s your take on this? Please share your view.
To contact the reporter of the story: Yashu Gola at firstname.lastname@example.org
Subscribe to our daily forex newsletter for free by visiting www.forexminute.com/newsletter