It is not a secret that the users don’t not rely on any legal rules while using the blockchain technology.
Fewer than 1,000 people declare bitcoin yearly in 2016 in the U.S.
It is totally the Natural law place driven by morality, traditions and based on technological functionality. Is it well? Do you need the law to feel prohibited, to be able to take legal action, file a complaint?
Will the newly created legal rules substitute the Natural law of blockchain?
Could the new regulation be hindrance or a neck bottle for the new users?
For example, according to the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017 U.S the funds stored in a digital format (cryptocurrency) is a monetary instrument. The person shall file a report if transport or receives monetary instruments of more than $10,000 at one into the United States from or through a place outside the United States.
Will those rules prevent you from using the cryptocurrencies?
