Bitcoin is “fairly” a new technology and many countries are still learning about how it works or how it can be regulated. If you are in the United States, then there is good news regarding Bitcoin and its regulation. Rob Joyce, the White House cybersecurity coordinator, has come up with good news.
According to him, Bitcoin still needs to be studied and understood. While speaking to CNBC, he also added, “I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are. So, I don’t think it’s close.” The statement was given at Munich Security Conference in Germany.
That’s a huge relief for anyone who is from the United States. Also, it is no surprise as Bitcoin futures are already being traded in multiple markets around the world. Investors can now freely invest in crypto, and they don’t have to worry about the losing their investment due to a potential ban.
Government aiming to learn about crypto is also not surprising as they can see the massive adoption of crypto by the population. However, not every government is supportive of the crypto-revolution. China, for example, has completely banned cryptocurrency.
Right now, the governments are looking for a way to deeply understand and regulate the crypto space to protect the investors.
Rob Joyce also added, ” We are worried. There are benefits to the bitcoin concept – digital cash, digital currencies. But at the same time, if you look at the way bitcoin works after there is a criminal act that takes place, you can’t rewind the clock and take back that currency.”
The FUD around cryptocurrency is also a thing that needs to be fixed. Bitcoin has already seen a 64% dip due to major cryptocurrency FUD around the world. For now, we only need to wait and watch how the government takes a step towards regulating and understanding cryptocurrencies.