Bitcoin Global News (BGN)
February 04, 2019 -- ADVFN Crypto NewsWire -- No regulation is not
a good sign.
Whatever your view is on how
governments should treat cryptocurrencies, it is reasonable to
conclude that eventually, traditional regulatory institutions will
have to be truly comfortable with crypto as an asset class before
it has any chance of reaching widespread adoption.
Still, for many crypto enthusiasts
and professionals, any attempt at regulatory oversight is seen as
an attempt to derail the powerful innovation of the greater
blockchain industry. Recently, when the SEC announced that it would
like a reliable tool to monitor what the most popular crypto
networks are by transaction volume, it is logical to assume that a
similar sort of outcry occurred.
Because this is likely true, this
illustrates another prime case of the importance of separating the
true signals from the noise or simply, the facts from the fear
mongering. Most importantly, related to this, since the SEC’s
reasoning for asking for such a tool is apparently to minimize
market risk and increase the likelihood that cryptocurrencies will
attain compliance with existing regulatory frameworks, shouldn’t
interested parties jump at this chance?
Don’t we, as a greater crypto
community, want to be accepted as a global currency standard going
forward? While the answer should be a resounding yes, due to the
inherent factionalism of each and every crypto community, the
reality is a bit more complicated.
Soothing the fears associated with
any government involvement in crypto networks will not be an easy
task. Perhaps, going forward, a good place to start would be to
practice a certain mantra that used to be a crypto
standard.
Before making any sort of judgment
on a piece of industry news, consider doing your own research to
confirm its’ veracity. Simultaneously, if you are involved with any
sort of firm in the data science sphere, consider contacting the
SEC to help in the development of this previously mentioned,
possibly essential tool.
By: BGN Editorial Staff