Rob Joyce, the special assistant to the president, and White House cybersecurity coordinator has said that there’s a long way to go before the U.S. government starts regulating Bitcoin.
Joyce, speaking at a security conference in Germany emphasized the importance and need for governments to understand the benefits and risks of Bitcoin and other cryptocurrencies before making any decisions on regulation.
We’re still absolutely studying and understanding what the good ideas and bad ideas in that space are, so I don’t think it’s close.
With many governments moving forward with regulations, proof of concept studies and some flirting with the idea of outright banning them, the U.S. government has seemingly lagged behind on making any sort of clear indications as to their outlook on the future of cryptocurrencies.
Not all US regulators have been dragging their feet however, some have recently spoken out on their views on cryptocurrencies the CFTC chairman Christopher Giancarlo, during the SEC hearing on 6 February seemed very open to cryptocurrencies stating: “We owe it to this new generation, to respect their interest in this new technology with a thoughtful regulatory approach.”
Many crypto-enthusiasts, traders and investors took this as a sign that the U.S. might take an approach similar to that of the Japanese, regulating in such a way as to grow the market as opposed to stifling it.
How do you feel about the slow transparency regarding regulation in the U.S.?
Should cryptocurrencies be regulated at all?
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Tiaan Wolmarans is a cryptocurrency investor and trader, airplane pilot, musician, and writer.
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