HERE'S WHY CRYPTO IS BECOMING HARDER TO REGULATE!
The more adoption an innovation has, the harder it is to regulate!
Makes one wonder… What if the internet was regulated in its early days?
Don’t say this isn’t possible because it absolutely could have been
Relevant authorities could say you need to KYC before you register a domain, launch a website, do literarily anything on the internet.
They could simply set high standards to build on the internet which would have definitely impeded internet adoption and use.
However, such regulations are just impossible right now.
As much as regulators are way too late for that, it’ll lead to a lot of backlashes.
The world is facing a similar scenario today with Crypto/ Blockchain. The innovation is incredibly amazing and fast-paced, thanks to decentralization.
Regulators are continuously finding it difficult to appropriately map out standards that will not impede innovation and set them backward.
We are not in 2017 anymore. A lot more people are getting familiar with crypto by the day.
However, the industry is still emerging - and until it fully does, regulators do not know what/how to regulate. They will only react to what dominates the market and create something around it.