Should cryptocurrencies be regulated or not? This has been a hot topic in recent years. If authorities and states decide to implement regulations, the question of how this will be carried out remains.
Someone who might be able to give a little forecast about what the future will look like is professor Jason Potts. He leads the Blockchain innovation hub, the world’s first research center focusing on blockchain from a social science perspective.
“Regulation is actually important”
“Regulation is actually important to create this industry and not just from a consumer protection side, but in order to reduce uncertainties and facilitate investment”, he says to Trijo News.
Jason Potts believes that the lack of common rules and international policies poses a lot of trouble. Also, he explains that the countries that adopted a more negative attitude towards cryptocurrencies have mostly done this to protect their own interests.
What will happen during the year?
By the end of 2018, Jason Potts believes that there will be more clarity on tax issues, how the different types of cryptocurrencies should be classified and how they should be treated in relation to other asset classes.
There has already happened much around the subject, but so far there is no real way of approaching this for all the new companies in the industry. Even between and within authorities, a unified approach should be introduced, Jason Potts thinks.
“Probably, the most significant thing that we are likely to see this year is increasing clarity coming from China, which is as we know now making huge investments in blockchain technology”, says Jason Potts.
Jason Potts is one of the speakers at the crypto forum BEF in San Francisco now in June.
