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Nick Weaver on Regulating Cryptocurrency
Schneier on Security www.schneier.com
Nicholas Weaver wrote an excellent paper on the problems of cryptocurrencies and the need to regulate the space—with all existing regulations. His conclusion:
Regulators, especially regulators in the United States, often fear accusations of stifling innovation. As such, the cryptocurrency space has grown over the past decade with very little regulatory oversight.
But fortunately for regulators, there is no actual innovation to stifle. Cryptocurrencies cannot revolutionize payments or finance, as the basic nature of all cryptocurrencies render them fundamentally unsuitable …
basic cryptocurrencies cryptocurrency finance innovation nature nicholas weaver nick payments problems regulations regulators regulatory space states united united states