I do not think it comes as a surprise to any of us that more and more reports and regulation is starting to happen. In my opinion this is a very good thing :)
I just read a breaking news articles stating that the Australian authorities will start to Regulate Bitcoin under a new AML and counter terrorism laws. This should not surprise any of us. The world is starting to wake up to Bitcoin and the Crypto Currency industry, because it is a massive industry and it is scaring a lot of governments and financial institutions that has for many years been controlling this aspects of life.
I recently had a conversation with a good friend and business partner, and everything he predicted is starting to happen. When people are scared they try to control it. And this is exactly what is happening in the USA, with the report which they published in July stating that certain ICO's are now seen as securities. You can view the full SEC report here
SEC Report
Developers, businesses, and individuals increasingly are using initial coin offerings, also called ICOs or token sales, to raise capital. These activities may provide fair and lawful investment opportunities. However, new technologies and financial products, such as those associated with ICOs, can be used improperly to entice investors with the promise of high returns in a new investment space. The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to make investors aware of potential risks of participating in ICOs.
Business has always been looking at ways to raise investment to implement new ideas or grow their business. That is a part of life and business. The old saying of "You need money to make money" is very true in this instance. It is important to understand that there will always be people who is looking to do things in the correct and fair way, but there will also be people that are trying to take chances and make money for not doing much.
I still believe that regulation is a good thing, a society does not function well without rules. I would however prefer if we could have regulation by the community. This is not at all impossible.
Happy Steeming!
