Dawn Of The Purge On Crypto
The majority of private investors in crypto-currencies (as well as small and medium sized DLT companies) are gradually pushed by their governments outside of legal boundaries because of over-regulation as well as of high costs new regulatory requirements impose on all of market participants.
Only several big players will be able to sustain their businesses under such conditions. Moreover, looks like the fight continues among those competing elements in governments, which want to simply ban all crypto-currencies and those, which want to adapt but severely restrict them.
It creates more and more incentives for millions of potential crypto-currencies users and investors to seek different ways to use incongruity of laws in different jurisdictions trying to stay in the legal zone.
Apparently, past two years, during which crypto-currencies have become a global phenomenon, taught regulators almost nothing. They still continue to put horses behind carriages squeezing all money they can from the fledgling industry before letting it reaches its full potential.
It is also exacerbated by the fear of freedom prevailing among government bureaucrats and their deep mistrust into people’s ability to self-regulate and to provide for themselves. At the same time, few rotten apples in our industry is considered by almost all official powers to represent the state of our crops.
Those short-sighted governance “strategies” when new technologies are banned or restricted by authorities from exaggerated dreads or from ideological and political reasons are very frequent in history. None of those strategies has ever succeeded.
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