Confusion Over Crypto Regulation
I was approached by several entrepreneurs to start a crypto exchange back in July 2017. After a review of the law in that area I declined to proceed because it became very apparent the SEC, IRS, and US Congress could not agree what it was and I had never seen the law in such a state of flux with so many unknowns. Now there is an academic paper by law professor Carol Goforth which confirms my earlier fears. There is no real consensus within the various governmental branches as to what crypto is and how it should be regulated. This is holding back its widespread adoption because big money does not want to inadvertently get on the wrong side of a criminal prosecution. I predict the sooner we get some legal consensus, the sooner we will see mass adoption. HODL everybody.
https://bitcoinnews.com/law-professors-paper-targets-us-regulatory-confusion-over-crypto/
I have a fixed feeling about this news, I just hope when they do come to a consensus it would be for the betterment of everyone in the cryptosphere.
Definitely you can never be wrong holding some cryptos, I only pray for lower taxes in the long run... regards!
In coming years everything will be in fever
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Hi @clayrawlings,
To be frank its not so easy to make low on crypto. Because it's not controlled by any one. If it get started controlled then it's no more centralized process.
But we should always think positive.
Thanks for this post.
Thanks because of you I am joined in steem basic income
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You are welcome, my friend.