Regulators will creep in no the world of cryptocurrency no matter what. Early in 2017, there was a Public Statement from the SEC:
“The cryptocurrency and ICO markets have grown rapidly. These markets are local, national and international and include an ever-broadening range of products and participants. They also present investors and other market participants with many questions, some new and some old (but in a new form), including, to list just a few:
Regulators are going to find a way to enforcement citing one reason or the other. And, now we can see the Ripple and SEC issue already and cryptocurrency heads are crying out for regulatory clarity.
Brad Garlinghouse recently tweeted: “…and now the SEC affirms that no determination has been made about XRP and it didn’t order or ask anyone to halt trading / delist, so retail holders shouldn’t blame the SEC but instead – wait for it – blame the exchanges! So who are they protecting?”
This is just proof that governments will ultimately find a way to rule the cryptocurrency business world. Regulators just like they did on Ripple will drop a bomb on every cryptocurrency ecosystem and they are not bothered about the collateral damage that they cause to normal people.
Ultimately, regulators just like with the SEC will find a way to blame the exchanges for the damages suffered by the retail investors in XRP. They will always try to find a reason to save face. They will always want to avoid publicizing government failure. Nobody is going to protect the little guy.
Governments are not against innovation. They just want control over innovation. With the blockchain and cryptocurrency industry, they have been closely following the potential of the technology. They let the private guys spend the hell in the R&D and when the time strikes right, they know how to jump in and take control.
Progress is inevitable, it cannot be stopped. May be regulators will slow down innovators, until innovators bow down to the umbrella control of the governments! Ripple is already going to win, but the damage is already done.
Get the latest Crypto & Blockchain News in your inbox.