It seems clear that the US government is making the case for Bitcoin regulation. It seems they’ve kept it in their periphery, but as of late they are more dialed in. Government headlines are coming “fast and furious” as of late. They probably figure that they will float ideas and statements out to the public to prepare everyone.
- First, we had the CFTC approve of the Bitcoin exchange.
- Then we had the SEC come out and rule ICO’s as securities, therefore they fall under SEC jurisdiction.
- Then Mnuchin just said a few minutes ago that hes “concerned about bitcoin being used for illicit activity.”
So they point the finger at some possible shenanignas, make a move on some bad guys and say “See, we told you so! Now we’re coming to clean it up!”
Regulation and government intrusion is sure to make many “purists” in the crypto community upset. These are the guys who fled to bitcoin to flee their oppressors.
But for regular investors I think the regulation further paves the way for larger investments from Wall st and the like.