Do Regulators of the World Reconcile with Bitcoin?
Since 2015, arguments have always been raised about the importance and necessity of regulating cryptocurrencies. Many regulators look at the possibility of making framework for cryptocurrencies dubiously, while all the governments, even those who are pessimistic about this new technology follow the news of cryptocurrencies persistently. The companies and investors require more legitimacy in the framework of rules to enter the world of cryptocurrencies and support Blockchain-based technologies. One the other hand, legislators cannot step in the route of the growth of cryptocurrencies easily and are afraid that they might intervene the normal growth of cryptocurrencies with their entrance in this area.
What Is the Approach of the Governments toward Cryptocurrencies?
The governments would like to control everything. They would like to follow up on everything and apply them for their purposes. The advent of internet as a huge phenomenon was one of the most important challenges the world faced. But what caused different governments not to have strong negative and pessimistic orientations toward internet was the concept of its globalization. Globalization is very different from being international and you should pay attention to their difference. In a global phenomenon, there is no trace of governments and nations. However, when we speak about being international, it is about the governments’ interests at cross-border level and it makes the governments to use policies about them. Different governments’ behavior in dealing with cryptocurrencies can be similar to their behavior with the issue of internet.
How Will Controlling Cryptocurrencies Be in the World?
As it was stated, the governments enter the arena wherein various stakeholders participate and all have the same right to manage and partake with more relief. As the global phenomenon of internet was able to keep all satisfied, cryptocurrencies and Blockchain will follow a similar route. G20 countries which are the most important actors of economy and world trade have stepped in to enter a global participation in the field of using cryptocurrencies.
Does the International Community Enter the World of Cryptocurrencies Collectively?
Holding meetings, training workshops, and different conferences where engineers and experts, investors, Blockchain developers and governments are present, creates a perfect opportunity to further Blockchain-based projects and apply cryptocurrencies widely. It seems that the fear of regulators and governments to take individualistic measures in the world of cryptocurrencies will be removed with the participation in global measures in this regard. Consensus and agreement which different governments and actors present in the world of cryptocurrencies achieve will greatly help reasonable and rational growth of cryptocurrencies and Blockchain. The entrance of cryptocurrencies in different fields of economy, communications and commerce avoids them to be neglected. Global participations to find the best optimum alternatives to use this newly-emerged world will help accelerating its growth. In this turbulent world because of fast technologic changes, ignoring new phenomena is just a comical mistake.