Bitcoin’s next chapter: meeting the regulators

Last updated on March 18th, 2015 at 12:07 am

Although it has been around for four years, Bitcoin has recently reached its popularity peak with the crisis in Cyprus. But now that digital currency is part of our everyday life, can anything change for real? Maybe. But, before entering the market, Bitcoin has to present itself to the regulators.

After the tumults in Cyprus, it’s now time to see how Bitcoin matures from a virtual to a legitimate and legal currency. Whatever that means, one thing is for sure: taxes are coming.

The problem is that, while this type of coin has a lot of advantages, it also has a lot of disadvantages and the current consequences of its existence are kind of scary. Why? Because Bitcoin is being used, in some cases, for negative purposes, such as paying for drug traffic and funding terrorist organizations. The possibility of Bitcoin becoming a huge scam is also scaring the markets and some of its users.

The possible scenarios are too many to enumerate. However, in the worst case, once regulators have met Bitcoin, they can take the ultimate decision: making it disappear.

But, imagine that the Congress of the United States of America starts the regulation process. That decision would, in a short amount of time, affect the global currency market. That would, certainly, take Bitcoin out of the suspicious shadows where the digital currency is now hiding.


Maria Santos

Maria is an experienced journalist currently living in the UK. She has been writing about Bitcoin and the altcoin universe since 2013. She is also a member of the Lifeboat Foundation's New Money Systems Board and a big cryptocurrency supporter.

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