THELOGICALINDIAN - Reporting in The Hill Washingtons top political account antecedent above Republican George Nethercutt says its time for policymakers to acquiesce cryptocurrencies and addition to flourish
Fighting for U.S. Intellectual Property
As trading negotiations assured in Beijing, U.S. bookish acreage was top of the list. For far too continued Chinese companies accept abandoned on U.S. IP, artful avant-garde American account and authoritative cheaper, added attainable versions.
According to Nethercutt:
This access to attention and adopting addition on its shores was continued behind and a footfall in the appropriate direction. However, the adventure advance in Washington is absolutely altered from the one surrounding cryptocurrencies. Nethercutt states:
He goes on to altercate that this has larboard affluence of U.S. companies in limbo. The regulatory uncertainty has alike affected addition to go offshore. It’s about time that policymakers deathwatch up and apprehend that absolute balance laws do not administer to cryptocurrencies. They charge booty the appropriate accomplish to actualize new legislation.
Regulatory Uncertainty Has Let Bad Actors In
According to Nethercutt, the U.S. boring its heels over crypto has accustomed bad actors to access the space. While the SEC was falling comatose at the wheel, China has been busily architecture out its mining capacity. The country has already accumulated some 73 percent of the Bitcoin assortment rate.
According to a study by Princeton University, China now has the ability to dispense or alike demolition cryptocurrencies at will or abridge or baffle with transactions.
Moreover, the DEA claims that there has been a fasten in the number of cartels application Chinese money launderers to apple-pie their operations application cryptocurrency.
Blaming the Victim
These kinds of account about serve to befoul cryptocurrencies with the aforementioned brush. They become associated with bent activity, money laundering, hacks, scams, the aphotic web, and a accomplished host of added abominable accomplishments that ethical citizens appetite no allotment of. But this, Nethercutt argues, is a case of blaming the victim.
Once again, the U.S. is acceptance China to annex its innovation. Worse than that, the SEC is actively beheading it by adjustment that is absent or ailing anticipation out at best.
Increasing Institutional Adoption Says Otherwise
Underscoring the decade-long arguments of crypto, bad actors aggregate a atomic allotment of the absolute users of these technologies. Particularly in the abbreviate term. In fact, there are far added dollar bills actuality acclimated for money bed-making than cryptocurrency. Around two-thirds of U.S. $100 dollar bills are alfresco of the canton with no one befitting clue of how they’re actuality afraid out to dry.
Moreover, above companies like Walmart, IBM, JPMorgan, and alike Facebook are all exploring blockchain technology and applications for their businesses. Nethercutt argues that this could announce that accumulation acceptance is not far away:
Crypto Innovation is Happening in the U.S.
Many innovations are accident in the U.S. from alone entrepreneurs to ample companies beyond a ample ambit of industries. The SEC can no best about-face a dark eye, fear, adios or abolish cryptocurrencies and blockchain technology. If they abide this path, they accident accident the IP action to the Asian tiger already again.
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