The very nature of cryptocurrencies dictate that regulation, control, and by extension, a centralized system, do not fit in with what they stand for. They are supposed to be totally decentralized, and therefore not dictated by many rules. This made a lot of sense when cryptocurrencies were not in the spotlight and not a major factor on the world stage. However, as mainstream adoption has increased, and as more individuals have entered the market, so has the interest from governments and regulators around the world. This has culminated with the G20 summit sitting down and discussing how to fit this …

Late last year, when interest in Bitcoin and its price was at its peak, France’s finance minister suggested that there be a public debate of Bitcoin at the G20 summit which concluded this week. The conclusion of this meeting, in regards to where the nations now stand on cryptocurrencies, is that a firm July deadline has been put forward for recommendations on how to regulate cryptocurrencies globally. There was some general uptake and interest in approaching this hitherto unknown and confusing space as countries had, up until now been forging forward mostly on their own in terms of regulations. However, …