ENOUGH BAD NEWS, This is what the US Government Concludes About BLOCKCHAIN and CRYPTOCURRENCIES

in #community7 years ago (edited)

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Future Regulatory Questions
Solving the challenges cryptocurrencies and blockchains present will require unique solutions that balance the needs of consumer protection, security, and entrepreneurship. While it is impossible to determine precisely which rules, regulations, and guidance will result from this process, one thing is certain. Regulatory agencies will need to coordinate to ensure they do not work at cross purposes. America is already subject to a complex set of regulatory institutions governing financial products and transactions. As Perianne Boring of the Chamber of Digital Commerce highlighted, this regulatory web produced four different classifications of digital assets (commodity, security, currency, and property),472 which is not conducive an environment where entrepreneurs are enthusiastic about launching a startup.

CONCLUSIÓN.
Technology presents evolving challenges and generates new solutions. Blockchain technology essentially stores and transmits data securely, in large volume, and at high speeds. So far, the technology has proved largely resistant to hacking, and given this feature, developers first applied it to digital currencies. Yet blockchain has many more potential applications, such as portable medical records and securing the critical financial and energy infrastructure that the Report identified.

Please read the full document here:
https://www.congress.gov/115/crpt/hrpt596/CRPT-115hrpt596.pdf

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Very good. crypto post I share and we vote and comments made

@melip Does US Government want to rule Cryptocurrency now?

Upvote, Comment & Resteemit - DONE

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They gave no time frame to come up with legislation, but the report looks very, very promising when it comes to acceptance. The good thing is that Crypto is in a green light now 😊

@melip Yes, it's a big big achivement.

La puedes poner en español por favor, que no entiendo mucho el ingles. Gracias de antemano

En paráfrasis, el gobierno de EU concluye que las autoridades completamentes deberán trabajar en forma conjunta con las autoridades regulatorias para lograr la legalidad de la tecnología Blockchain en forma transparente y protegiendo al ciudadano de cualquier actividad fraudulenta.
El Gobierno de EU considera que la tecnología Blockchain tiene usos más allá de ser criptomonedas, y trabajará en cooperación con los innovadores de esta tecnología en su aplicación en un futuro cercano 😊

I think they’re GREAT NEWS since the US Government is not against the innovation that Blockchain can offer including Cryptocurrency. I think something very positive will emerge from this report 😊

wow..very good news.
my dear friend @melip.
thank you for sharing with us.

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