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Legitimize Bitcoin and other cryptocurrencies

2020.06.12

Cryptocurrencies have become an asset class worth hundreds of billions of dollars, yet regulatory oversight remains fragmented and undeveloped. For all the promise of the blockchain, Bitcoin and initial coin offerings, there’s also plenty of hype, fraud and criminal activity.Under the proposal, Bloomberg will work with regulators to provide a legal framework for Initial Coin Offerings. This will be done by clearly defining which cryptocurrencies are to be considered securities by regulators. This key question is one of the most controversial on the crypto market.

The proposal is part of the financial reform he intends to implement if he wins the elections scheduled for November this year. Bloomberg is the candidate with the greatest affinity for crypto-currencies after Andrew Yang left the race.It also recognizes the progress and adoption that cryptocurrencies have had over a decade. This has resulted in Bitcoin having a market capitalization of billions of dollars. The proposal also recognizes one of the demands that the crypto-industry has been making for years: clear rules and a robust legal framework.

作者 : Reynaldo