Ethical economy or banking fear ?

Ethical economy or banking fear ?

By Sapi | Sapi | 26 Oct 2020


The banking sector look with reluctance at cryptocurrencies, fearing that transmitting value without the intervention of intermediaries, may end up displacing the business normally done by industry.

The development of effective rules regarding cryptocurrencies is still at an early stage: it is a difficult area to regulate, because of the competence of different public entities at national level and at the same time operating on a global scale. Usually trading systems are completely opaque and operate outside the conventional financial system, which makes harder and harder to monitor their operation.

What are the possible ways:

  • include virtual currencies in the group of cases already appropriately regulated
  •  issue warnings to consumers or have subjected the carrying out of some of the activities of the system to an authorization regime
  •  financial institutions from trading virtual currencies 
  • banning their use, prosecuting offenders. T

My preference is that the authorities calibrate the contents of future regulations in order to adequately address the risks.

We cannot excessively stiff innovation.

Learning from history clearly state that prohibition is not the right way....you just obfuscate the market.

Crypto are the reality ... you just should know well what it is....

 

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