Not surprisingly, following the arrest of Mt. Gox CEO Mark Karpeles comes word that the Japanese government may seek to implement a formal licensure process for bitcoin exchanges. This was to be expected and has otherwise been greeted by the bitcoin industry with a collective shrug. However, what has not gone unnoticed is the renewed barrage of media editorials calling for “transparency and safety” from this “highly anonymous transaction systems”. Sadly, such calls for regulation are dominated by uninformed rhetoric seeking protection from risks that are not largely understood outside the bitcoin ecosystem. Simply put, the public is asking for “regulation” for the sake of regulation. This is truly concerning to say the least.
For years, crypto businesses have been told federal clarity is “coming soon.” At this point, “coming soon” has started to sound like a movie trailer
The clearest lessons regulators are sending—and what your program should do next. If you want to know what regulators care about, don’t start with
Derivatives, Commodities, or Gambling? The Regulatory Crossroads Ahead From Signal to Scrutiny In Part 1, we looked at why prediction markets have captured so much