Apparently the first articles written about Facebook's venture into the world of crypto were a it off. Yes, it seems like it's happening a lot sooner than we thought, and even though some people believe that this is "the end" for the crypto fringe crew, I think it's actually going to help us all.

_pcworld.com

What?

I will get some backlash for saying this, but truth is that it's unavoidable. We need legislative clarity in this space, and even though most people who got into crypto to begin with, did so to escape the government, we can't deny that the future will involve them.

Does this mean that I want government all over my stuff? Of course not, but to think that the space can operate outside of a legal framework forever is just wishful thinking and nothing more. Yes, peer to peer transactions will always continue, but unless a armageddonian level event happens, governments are not going anywhere anytime soon.

So why Facebook?

Because it brings it to the front page, because Facebook has enough power as to make the clarification of regulation a priority not only for the American government, which of course needs it desperately, but all over the world.

You see the SEC and it's equivalent agencies around the world are attempting to legislate using laws written before computers existed, and it's easy to imagine how that would be extremely inefficient.

I don't think it's a far stretch to imagine Facebook in cooperation with Gemini drafting ideas that could become the legal framework for this whole thing to gain mass adoption. To think that Zuckerberg and the twins are putting their differences aside, really sheds a light as to the level of importance here.

Does this mean I'm running back to Facebook? No, not necessarily, but my personal choice on this matter is not that relevant. That being said, to me these news are bullish, no matter how I look at them.

MenO