US to turn Bitcoin operators into "banks" - what you should know
bitcoin·@blockrush·
0.000 HBDUS to turn Bitcoin operators into "banks" - what you should know
<html> <p><img src="https://steemitimages.com/DQmWCiRUJzQUiPG81nXqqidU1LWUhc1oHQwD5awLjZJQqDW/bitcoin-bank_0.jpg" width="1094" height="953"/></p> <p><br></p> <p><a href="https://cointelegraph.com/news/us-wants-bitcoin-operators-to-apply-for-bank-status">According to the Coin Telegraph</a>, the US government is ready to integrate crypto-currency exchanges and trading platforms into the banking industry.</p> <p><br></p> <h1>What is the positive side?</h1> <h3>Institutionalizing Bitcoin</h3> <p>Giving Bitcoins operators the status of banks will provide Bitcoin the necessary legal footstool to further establish it into society and economy.</p> <h3>Doubling our investments</h3> <p>Such a move will surely set Bitcoin prices to over $10,000 in just about a year. The US is the most innovation and capitalist nation in the world and if Bitcoins is "legalized" there, then we can only expert a boom in Bitcoin products and developments.</p> <p><br></p> <h1>What could be the negative side?</h1> <h3>Stripping Bitcoin's values</h3> <p>Features of Bitcoin such as anonymity, autonomy and decentralization will be under threat as legal complaince policies will undo most of them.</p> <p><br></p> <h1>What will be the overall effect?</h1> <p>Overall, it will be good for Bitcoins. Yes, Bitcoin may lose its autonomy and anonymity, but such a move will also legitimize Bitcoin in the government sector.</p> <p>Investors and mainstream businesses will now be free to adopt Bitcoins and this will lead to a huge growth of Bitcoins.</p> <p>This will move will however not cause alt coins to increase in value - once governments put up a framework for crypto-currencies they will all be made to comply with it.</p> <p>ZCash and Dash will either have to comply or find themselves on the watchlist of the CIA. The result is that no crypto-currency will be able to retain the advantage of being anonymous or autonomous.</p> <p>With all crypto-currencies being forced to become complaint or face legal suits, the playing field will be equal for Bitcoin and all holders.</p> <p><br></p> <p><em>Overall it would be bad for the crypto industry, but there is no other way. Atleast we still get to work with Bitcoins and cryptos, unlike China where you cannot.</em></p> <p><br></p> <p><em>Do not miss:</em></p> <h2><a href="https://steemit.com/smt/@blockrush/comprehensive-feasibility-studies-of-the-smart-media-tokens">Comprehensive feasibility studies of the Smart Media Tokens</a></h2> <p><br></p> <h1>Upvote, resteem and follow @BlockRush for Bitcoin and Blockchain news analysis</h1> <p><br></p> </html>