After yesterday's vote of the European Parliament committee, I have become very pessimistic:
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Everything is changing before our eyes in the digital currency industry. With bans on anonymous transactions well underway, the U.S. SEC circling the likes of Ripple and Tether, and Satoshi’s Bitcoin slowly being understood as an electronic cash system designed for small casual payments that works within the law and which is always subject to it, things are ever so slowly changing for the better. If the EU votes to pass the new rules, it will be another nail in the coffin for the false narrative plaguing the industry[/i]."
And the problem with this is that it sets a precedent and entrenches a trend of increasing state control.
What do you think about it? Are you as pessimistic as me or this article?
Edit: go to page 2 for the key proposals of the draft.
Also: PLEASE REALIZE THAT franky's ARGUMENTS ARE GARBAGE. As they are based on a former draft on a slightly different subject, that didn't pass, as I've shown on page 2.
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Everything is changing before our eyes in the digital currency industry. With bans on anonymous transactions well underway, the U.S. SEC circling the likes of Ripple and Tether, and Satoshi’s Bitcoin slowly being understood as an electronic cash system designed for small casual payments that works within the law and which is always subject to it, things are ever so slowly changing for the better. If the EU votes to pass the new rules, it will be another nail in the coffin for the false narrative plaguing the industry[/i]."
And the problem with this is that it sets a precedent and entrenches a trend of increasing state control.
What do you think about it? Are you as pessimistic as me or this article?
Edit: go to page 2 for the key proposals of the draft.
Also: PLEASE REALIZE THAT franky's ARGUMENTS ARE GARBAGE. As they are based on a former draft on a slightly different subject, that didn't pass, as I've shown on page 2.
This was to be expected since governments often see crypto as a threat to the existence of Fiat. The EU decided to "up" their game as they believe crypto can be used by Russians to avoid sanctions. Other countries are tightening regulations for the same reason. Privacy in crypto/Blockchain land was relatively non-existent since centralized exchanges and transparent cryptocurrencies like Bitcoin and Ethereum have dominated the industry for long. There are only a few privacy-oriented solutions, but adoption is relatively low.
What matters is that crypto stays decentralized so that it can stand the test of time. As long as there are defenders of privacy and decentralization, there should be nothing to worry about. Just my thoughts
