At first, I was totally against any interference of any government in regards to #cryptocurrency because of corrupt governments are and their close ties to wealthy bankers who only seek to control and manipulate the fiat market to their benefit. We have witnessed time and time again how many of the economical crisis that have occurred throughout history are attributed to the unequal distribution of wealth and greed of those in power.
However, after seeing all of the scam "lending" platforms such as Bitconnect and Davorcoin, it's goes without saying that many people are vulnerable in cryptocurrency. While some believe that one should have sense enough not to engage in such activities, the average person is looking for financial freedom. The above platforms and others that currently operate, prey on people who have economical disadvantages and greed. As a result, tenured and newbie crypto users fall victim to the promises that these platforms offer, causing many to lose their crypto.
I do agree to some extent that people should use caution when coming across scam lending platforms and ICOs, many are transitioning from a regulated fiat market with securities provided by banks and government into a market which put 100% responsibility into the user's control. Again, I am not shifting blame on anyone but lets be honest, there's a small minority who understands the purpose and function of crypto. For everyone else, they only see it as an opportunity for financial freedom and advancement.
This leads to my point of government regulation. I do believe that their should be some sort of regulation on ICOs and a complete shutdown of ALL lending platforms. Many ICOs mislead contributors with flashy websites and promises of new tech with a hidden agenda to get as much crypto as possible to cash out to fiat later, leaving contributors to wonder what they've gotten themselves into and how will they get their investment back.
For true adoption of cryptocurrency and to have the marketcap grow to its true potential, people need to feel somewhat safe. I do not believe the government should control crypto to extent in which fiat markets are currently regulated but I do believe that this "wild-wild west" from of the cryptocurrency market is unhealthy and will prevent its growth in the long run.
I definitely would love to see responses, whether opinionated or supported with facts as why you agree or disagree with the above.