G20 to discuss Bitcoin, cryptos in 2018

Bitcoin $BTC and crypto currencies have been put on the discussion agenda for the next G20 meeting, to be held in 2018.

Finally it looks as though the sheer amount of money invested in the crypto space, and the freedom of movement is of concern to world governments.

 

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The G20 to discuss crypto currencies

 

Bitcoin $BTC and crypto currencies have been put on the discussion agenda for the next G20 meeting, to be held in 2018.

 

Finally it looks as though the sheer amount of money invested in the crypto space is of concern to world governments.

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I have always found it hard to fathom why world governments have, by and large, ignored crypto currencies up until now, despite the fact that they offer a way to circumvent drug trafficking, taxation, and money laundering laws.

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There seems little point in the established financial system conforming to the myriad of  rules to prevent financial transgression, if one can simply opt for a different money system and transfer money with impunity!

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It would appear that western governments have finally woken up to this fact, and that may lead to regulation for cryptos in the shorter term, in my opinion. This has been a long time in coming, but we may be nearly there.

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Another area I expect to see tightened up is the ICO market. This seems to have reached ridiculous proportions, with around 150 new tokens being issued this year, including the Tezos farce that may yet land up in court, and rightly so too, in my opinion.

 

An ICO is, in reality, an IPO, and tokens are akin to shares, and need regulating in the same way as securities do. The SEC have already realised this, and are going to regulate accordingly, which is entirely correct in my view.

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The Chinese have banned ICO;s currently, but maybe they will also go down the regulatory route in the future?

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Like the internet, the crypro coins and tokens have enjoyed great freedom, but that looks as though it is about to be reigned in and replaced with a tightly regulated system.

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I expect to see a very different internet and crypto currency world in a few years time, if not before.

 

 

 

 

 

 

 

 

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