Wednesday, August 16, 2017

Mainstream Acceptance of Bitcoin is Almost Certain, But We’re Not There Yet

Mainstream Acceptance of Bitcoin is Almost Certain, But We’re Not There Yet

The current bull market is outrageous. Long-dead altcoins are being pumped to 10,000% gains, ICOs are raising hundreds of millions of dollars, and the talk over on /r/ethtrader is dominated by folks with lambos. In the midst of it all, Bitcoin has gradually increased its price, from just over $1000 at the beginning of the year to $4250 at press time.


Many are calling this market a bubble, saying that everything that goes up must come down eventually. They are likely correct this time. But there is reason to believe that digital currency is beginning to reach mainstream acceptance.


Regulatory uncertainty is arguably the biggest obstacle to the mass adoption of digital currencies. While tales of “Bitcoin bans” have gradually faded over the years, and governments are looking more favorably upon digital currency, it still has a long way to go. The biggest regulatory obstacles are tax policy, anti-money laundering (AML) laws, and securities regulators.


Recently the U.S. Securities and Exchange Commission (SEC) issued a report condemning many ICOs as violating securities laws. This has resulted in Bitfinex ceasing all trade of ERC20 (ICO) tokens and suspending service to U.S. users.


Full story at http://bit.ly/2uNBkyX


Source: CoinTelegraph


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