Bitcoin, Crypto currency, Blockchain

The white house: for the time being, no regulation for Bitcoin and crypto-currencies

The US government will currencies, according to the official statements of the representatives of the White house for the time being, no regulation for Crypto such as Bitcoin and Ethereum. It was at this time too early.

In an Interview to CNBC Rob Joyce said that the government is quite currencies concerned in relation to the risks of trading with Crypto, however, at the present time is still far away, to bring relevant rules and regulations on the way. He described it with the following words (free Translation):

I think we are in an important Phase, which approaches could be good or bad for the crypto market.

He continued that the government was the highest-laundering concern because of the potential crime with a focus on money and the illegal Stealing of assets from exchanges and Wallets. This he described as free Translation) (:

We are principally concerned. However, we also see very clearly the opportunities of the concept of Bitcoin. Unfortunately, it is not to turn possible back in time, and the Victims of Hacker attacks, and return your money. At the present time we have no precise Agenda, that is a Problem.

Joyce agrees with the comments by the us Secretary of the Treasury Steven Mnunchin that providers of cryptocurrency wallets under the same guidelines, the AML (money laundering) and KYC (Know-Your-Customer identity verification) should be, as in the case of banks.

Mnunchin said in an Interview in January (free Translation):

We must pay particular attention. the most important thing is that people use Bitcoin for illegal activities. We want to avoid spread the the Dark Web using Bitcoin.

All in all, the current developments from our point of view are very positive. Neither a prohibition, like this, for example, it was set in China, a strong regulation seems to be timely provided.

Some States in the USA are increasingly dealing with the topic of digital currencies. Arizona, for example, has initiated a draft law, which provides that residents of this state can pay your taxes with crypto-currencies. Similarly, discussions that other Federal States may follow to run already open to the public.

As the crypto market is currently developing, can be followed in our course overview.

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