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Bitcoin Best News

There is good news for Bitcoin: governments are getting interested in the cryptocurrency. That is the best thing for Bitcoin, ever. The government of South Korea has noted that it would impose new curbs on cryptocurrency trading. And regulators will now have the power to close virtual coin exchanges if needed. It does not stop there: government will monitor and track accounts, banning opening of anonymous cryptocurrency accounts . To even make it better, government has a tax structure for all cryptocurrency trading.

The steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed, a measure recommended by the justice ministry, the statement said.

Fair? Yes, that is an evolution in the Bitcoin-land. For government to tax it means that government has recognized it. Simply, the Bitcoin uncertainty principle is being solved: it is becoming part of commerce and industry.  Expect clearer regulations to emerge in 2018.

In a newsletter, TechCrunch called this government move right: "Good; more governments should". I agree.

Well, you cannot be in a regulated world and same time want to operate without regulation. Irrespective of the seemingly good intentions the cryptocurrency might have, it's simply delusional to think that it could somehow be totally unregulated, and same time lay claim to legitimacy and relevance. More government actions loading...