Hey all It's me again!
So some of you may be wondering why the BTC markets have been lulling around and not doing much.
Simple answer is ... everyone in the know (BIG crypto players) are waiting for the G20 summit to take place on Tuesday 20th March 2018.
They have outlined a discussion to take place surrounding Bitcoin and the digital economy that we are ever so lucky to be a part of from this early stage.
From my point of view regulation is GOOD and much needed for the Crypto economy to grow to the level of which we all know it is capable of.
BUT before you get your knickers in a twist... there ONLY...NEEDS... to be 2 things regulated!!!
Firstly:
The exchanges, by regulating the exchanges would mean that all exchanges that STILL wish to operate will NEED to allow ALL governments access to their own respective citizens users database specifically the KYC data.
This will allow EACH government to link the KYC and wallets data of the exchange and a particular citizen to that countries own database for income and finance/Tax.
Secondly:
Create a Global Governing body for Digital Currencies (G.G.D.C), their job will be to regulate ICOs and anyone who wants to run an ICO.
By regulating this I mean... If you want to run an ICO you can, no worries, EVERYONE CAN run an ICO, BUT you need to provide KYC details of yourself and your whole team EVERY member and EVERY new member of the team going forward. The ICO applicant will also need to provide a plausible whitepaper.
This will inevitably reduce the amount of SCAM ICOs that can take place as individuals will be WANTED criminals and every Government will KNOW who these individuals ARE!!! So no ESCAPE and no theft.
Also people investing in an ICO will be able to know if it has been approved by the governing body ... like a stamp of approval.
Why are the governments of the world wanting regulations!
Governments do NOT care about YOU or where you keep YOUR MONEY, governments are scared off ... people not paying them TAX... that's the BIG picture. Governments don't care about banks, they care about WHO is paying them their money.
People think governments love banks.... this is NOT true, governments NEED to love the banks because banks are the ONLY BUSINESS (YES a BANK is a BUSINESS!!!!)that is able to lend A government the amount of money a government needs to operate hence why banks are where governments get their BIGGEST funding from, they borrow from the bank and "pay them back" with interest.
If we EVER were to get RID of the banks, WE the citizens of the each government would need to fill that gap of income OR the governments would have to trim their FAT in their employment numbers!
What are your thoughts?????