Post
Topic
Board Economics
Re: Fiat, Banks and the future of Cryptocurrencies
by
gantez
on 28/02/2018, 18:06:20 UTC

I do understand the banks concern to ensure that there is no money laundering or criminal financing involved, but such restrictive, strict measures could have a significant impact on the entire cryptocurrency market. In a doomsday scenario, I could even imagine banks globally to impose similar restrictions worldwide, and thus even killing the entire cryptomarket. The fact that more and more internet shops, service providers, or even brick-and-mortar shops might accept cryptocurrencies does not really solve the problem, as these shops would be forced by THEIR banks to impose stricter measures on their clients. Thus the problem remains, but would be shifted along the chain.  Do you think such a scenario is plausible?



I will talk about this end of your post and I believe such restrictions would propel stakeholders in crypto business to buckle up in their trade. Stakeholders like exchangers because that is actually where it starts from.

Then, this could bring in proper regulations from the government. For me, bank restrictions is good for a start.