Why Regulating Bitcoin Won’t Work

In recent months, bitcoin has increased in usage and well-known attention. With all this improved exposure and rapidly growing company activity, the public sector has been bound to get involved sooner or later.

Governments everywhere are usually increasingly taking steps to regulate bitcoin and other cryptocurrencies, but these responses have been anything but uniform. And, while some countries are taking a ‘hands-off’ approach, these are the exclusions to the general trend.

Canada and New York are each poised to enact brand new regulatory measures, Russia has been the first developed country to ban bitcoin outright, and China arrived pretty close to doing so back in December. While countries may be far apart in the way these people tackle the issues raised simply by bitcoin, their fears are the same.

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