White House official-cryptocurrency regulation not to come out anytime soon. Most of the investors are expecting strict rules and regulations on cryptocurrencies. A large part of the cryptocurrency community is expecting white house is to bring about new rules and regulations. However, recently white house official confirmed that cryptocurrency regulations will not be unveiled anytime soon.
Rob Royce, who is the White House cybersecurity coordinator, exclaimed that they are still currently studying the cryptocurrency. They are not close to formulating proper guidelines for the cryptocurrency. We stated that it will take a long period of time to formulate proper cryptocurrencies. He also they added that one of the aspects of the cryptocurrencies which will be difficult to regulate is the finalization of the transaction. The transactions which are initiated in Bitcoins, as well as other cryptocurrencies, are not reversible.
He added that once Bitcoin or any other cryptocurrencies are used for criminal activity, there is no going back. This is one of the largest worries which they face. According to a US Treasury official, it is important for the entire international community to come together to formulate such guidelines.
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