• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
munich
Nexo Logo

Munich Security Conference: U.S. Govt. Nowhere Close to Regulating BTC

newsbtc by newsbtc
4 years ago
in Bitcoin
Reading Time: 2 mins read
Advertisement

Speaking at the Munich Security Conference, the White House cybersecurity coordinator has stated that the U.S. government is nowhere close to regulating Bitcoin. He particularly emphasised the need to better understand the cryptocurrency’s risks and benefits before embarking on any sort of regulatory regime.

Hundreds of world leaders and security chiefs are gathered at Munich’s luxury Hotel Bayerischer Hof this weekend in what’s been called the “Academy Awards for security policy wonks.” The Munich Security Conference comprises three days of debates, speeches, and sideline meetings regarding international defence policy, and is attended by top world leaders, as well as CEOs, human rights campaigners, and environmentalists.

Speaking with CNBC, Rob Joyce, special assistant to the President and White House cybersecurity coordinator, said there’s a long way to go before the U.S. government starts regulating Bitcoin and other cryptocurrencies. Joyce emphasized the need to better understand the cryptocurrency’s risks and benefits before moving forward with any sort of regulation: “I think we’re still absolutely studying and understanding what the good ideas and bad ideas in that space are,” he said when asked about the potential for government regulation. “So, I don’t think it’s close.”

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin is a decentralized and digital, and unlike fiat currencies such as the dollar it’s not backed by a central authority. And as transactions are anonymous, the coin has been accused of making it easier for those engaged in illicit activities to hide their money. But this ability that Bitcoin and other cryptocurrencies offer to avoid traditional restrictions on money and assets is part of what makes it so popular to those who use it. That decentralization is also much of the reason its price swings so wildly.

“We are worried. There are benefits to the Bitcoin concept — digital cash, digital currencies,” Joyce said. “But at the same time, if you look at the way Bitcoin works after there is a criminal act that takes place, you can’t rewind the clock and take back that currency.” Joyce described the inherent problem with this lack of a trail, noting that in the case of credit card theft, for instance, individuals or companies can contact their banks and purchases can be undone and the cash retrieved.

Business and policy leaders are divided over the future of cryptocurrencies and associated technology. The International Monetary Fund (IMF) has said it will have to be regulated, while South Korea’s threat of regulation in early 2018 sent waves across the crypto-world. France and Germany are said to be working on their own regulatory structure, as European Union lawmakers call for some sort of control over a currency that has the potential to be used for drug trafficking, money laundering, and terrorism. Further, governments are more uncertain still over what “regulation” would actually look like — from more subtle restrictions to an all-out ban.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Tags: bitcoincryptocurrencyCybersecurityMunich Security ConferenceregulationRob JoyceWhite House
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin on-chain metrics

Bitcoin On-Chain Activity Throttled After LUNA Collapse

16 hours ago
Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

Bitcoin Consolidation Uninspiring, But Run To Near $33k On The Cards

17 hours ago
Bitcoin

Bitcoin Trading Volume Plummets Down From Recent Top

20 hours ago
Bitcoin

Bitcoin Sets Record Streak For Bloodliest Weekly Trend yet

21 hours ago
JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher

22 hours ago
Bitcoin Rejects Downside At $29k, Here’s Why This Is Good

Bitcoin Rejects Downside At $29k, Here’s Why This Is Good

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Oriental Culture Announces Strategic Partnership with Hangzhou Metaverse Internet Technology Co., Ltd.

May 26, 2022

Price Prediction: How Profitable Will These Coins Be? — Dogecoin (DOGE), Parody Coin (PARO), and Ripple (XRP)

May 26, 2022

In Defence of Cryptocurrency – Christine Lagarde, Are You Serious?

May 26, 2022

Gaming Projects You Should Know in 2022: Decentraland (MANA), Enjin (ENJ), and Pac-Man Frog (PAC)

May 26, 2022

These Undervalued Coins Could Be Your Ticket to Being a Millionaire: Polkadot (DOT) and Quitriam Finance (QTM)

May 26, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.