Various governments are still looking to actively regulate Bitcoin and cryptocurrencies. In the US, it appears that some new proposals aim to achieve that goal.
With the Federal Reserve exploring the issuance of a CBDC, regulation isn’t too far behind.
More Bitcoin Regulation in the US?
What the new rules will look like exactly, remains subject to plenty of speculation.
A new report by Bloomberg seems to indicate that FinCEN is looking to introduce new guidelines fairly soon.
The objective of this move is to make Bitcoin activity more transparent.
An interesting way of phrasing it, as everything about Bitcoin is transparent by default.
How centralized companies providing exposure to this asset handle their business, is something else entirely.
By adding more requirements to the mix, the industry can eventually thrive.
It all comes down to what these measures entail exactly.
For now, it appears that the main focus remains with money laundering concerns.
Again, this appears to be a clear warning to exchanges, wallet providers, and mixing services.
Not all privacy-related activity surrounding Bitcoin and other cryptocurrencies is nefarious by default, however.
One can only hope that policymakers will distinguish between malicious use and innocent privacy enhancements as well.
That seems rather unlikely, but one never knows what the future may hold.