An important quote from the board director of Blockstream and founder of Stillmark, Alyse Killeen.
I've taken the time to collect and display the important points and subheadings from an article (linked below).
The death of cryptocurrencies has long been prognosticated and it is proving even harder to bring down this drive. Governments have started to reconsider their previous positions on their utility as some decide to adopt and regulate them as opposed to blindly opposing their use.
Despite being banned in some major countries such as China, Bitcoin has still held strong, which speaks to its strength and adoption.
Here are some lessons as to why these bans keep failing
- You cannot ban the blockchain, its code
- Crypto is more than just about money, it’s fostering other technological innovations
- It's solving real financial problems where other systems have failed
- The world is changing and so is crypto
- No real reasons/fears to warrant ban
Banning crypto is ill-advised. Instead, governments should seek to consider a crypto economy as the early beginnings of a new open financial system.