Will Crypto Regulation Fasten Its Adoption?

The main purpose of bitcoin is to create a trust-less, decentralised means of transaction without the influence of a third party, only peer to peer. This means that regulators were not included in the party, just a bunch of people in a community doing their financial businesses in peace. But a lot has happened within the space that it has been used both for the good and evil, especially during the ICO scams and some other market downturns.

The government never liked cryptocurrency in the first place, they have been looking for ways to crack it down and they saw a reason by calling it an asset for the criminals. If you were in the position of the government you would do the same, right? When the nation is used to using the national fiat currency to control the people, mind you this fiat currency has no limited supply and can not be traced, thereby reducing transparency. All of a sudden there is a new kid in the block whose job is to show maximum transparency and give the users more power to use and control their money.

50% of the world population is not yet using crypto and just take a look at all the changes that have happened since then, imagine if 50% started using bitcoin, how powerful do you think the users will be? This is probably what the governments are scared of, hence their need to look for ways to regulate it. In as much as we can hate the government and what they do most times, we can deny the fact that they are the fastest means to create awareness. They control the world, they control what people eat, see and listen to. They can help us push crypto adoption faster or they can try to control it.

Look at El Salvador for instance, crypto adoption became faster in the country because the government became interested in bitcoin, imagine if other countries did the same but not necessarily making it a legal tender like El Salvador, but at least stop speaking evil and bad against bitcoin, while doing it, they are promoting it and regulating it. Regulating crypto is good, so as to reduce Money laundry operations, but this will be completely against the reason Satoshi Nakamuto created bitcoin. It was supposed to be anonymous and to of the government control, but when the government start regulating it, they will be one step closer to controlling the crypto industry. This will bring us back to square one.

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