RE: CryptoFinance Live Debate with 7 Panelists Including Ned Scott on Blockchain, Cryptocurrency and Regulation
Really insightful discussion. Thanks for hosting the event and sharing it with us!
Countries and banks need to realise that cryptocurrencies will penetrate their markets with or without regulatory buy-in. Like peer-to-peer music sharing, the entities that embrace the change will leave with the spoils. Those that don't will become irrelevant.
I love it when people talk about regulating cryptocurrencies. It's as absurd as regulating cash transactions. All they can regulate is transactions into and out of fiat. Yes, the AML concerns may be legitimate. However there are arguably better vechicles of laundering money than crypto. Also crypto is servicing a bigger need. The need, in this global village of ours, for the every day person, from the unbanked to the banker, to have financial freedom.
I never knew their was a VAT on crypto-currencies in Norway. I never knew that there were banks that still shunned people that set up Bitcoin related accounts. Strange approach. Some countries/ banks are endanger of being left behind when the crypto revolution bites! I hope Norway isn't among them!
I love that people are still trying to separate "the blockchain" from crypto and use the blockchain within the existing financial system. It's a bit like taking an engine out of a car and sticking it into a horse!