US government spokesman assures that cryptomoney regulation will not be given in the short term

The White House virtual security coordinator and special assistant to U. S. President Rob Joyce said the United States still has a long way to go before effectively regulating the cryptomonniques.

Joyce's announcement at the Munich Security Conference in Germany stressed the importance of taking a broader and more measured approach to Bitcoin and the digital currency ecosystem, rather than rushing to rush and launching government regulation that could have unintended consequences.

Joyce said:

I think that at the moment we are still studying and understanding which ones with the good and bad ideas in that space. Therefore, I don't think a definitive decision on government-led regulation has yet been made.

Although the government is carefully evaluating the options, Joyce publicly acknowledged the criminal potential seen within the coin-crypt space, especially because of the difficulties inherent in monitoring transactions in the Blockchain associated with criminal acts, she explained:

We are concerned. There are benefits to the Bitcoin concept - Money and/or Digital Currency - but at the same time, if you observe that the cryptomoney is used to carry out criminal acts, it is not possible to go back in time and return the assets.

Unlike banks and credit card companies, which can reverse transactions that may be considered fraudulent, Bitcoin and other cryptomonniques lack the means to protect those whose funds have been stolen. Joyce said that because this is impossible, you basically have a problem on your hands.

However, the fact that the White House and the U. S. government are taking a slower approach to possible regulation of Bitcoin and other currencies can also be seen as a positive sign against the effect that unfounded rumours on such a sensitive issue as cryptomoney regulation can generate.

Different positions in front of regulation

The issue of cryptomoney regulation has been characterized by the fact that it has different positions in the international arena.

On the one hand, France's Minister of Finance Bruno Le Maire and the Acting Minister of Finance Peter Altmaier state that it is necessary to take action on the matter for fear of an eventual situation of international financial instability, while the British Prime Minister, Theresa May, expressed her concern about the use of cryptomonniques in criminal acts, assuring that the way in which they are used by the United Kingdom is to be seriously evaluated.

Meanwhile, the authorities in China are standing firm to eradicate intra-China trade in cryptomoney. India, for its part, maintains an ambivalent stance as it sometimes speaks out against cryptomonniques but at the same time does not appear to be interested in banning their use.

Meanwhile, other countries such as Switzerland are in favour of the use of cryptomoney and its underlying technology.  And in Latin America, other countries, such as Venezuela, are initiating policies that seem to favour digital currencies.

Source: LogicalWorld. net