Career politicians in the ever business hostile West want to protect you:
Enough ‘Feeble Warnings’, Regulate ‘Wild West’ Crypto Market: UK Lawmakers
This is the conclusion following a formal inquiry launched by the UK’s Treasury Select Committee, a powerful group of cross-party MPs, into cryptocurrencies: “The introduction of regulation should be treated as a matter of urgency”.
On the other side of the world, to where the future global financial centre will no doubt shift, seem to see this development as an opportunity to steal what lunch is left on the West’s table:
The Monetary Authority of Singapore (MAS)… believes that no tokens it has seen need to be regulated under its securities laws… regulators like the U.S. Securities and Exchange Commission… can be expected to come to a different conclusion.
This is a trend that is emerging globally where all the Western governments are choking to death business vitality (FATCA/MIFID/GDPR/AML, etc) whilst the East watches this self-immolation with glee… Singapore is the prime jurisdiction to benefit, and this is another reason why we like it for property investing; sorry but HK is not longer such a nimble winner in this game, because it is ruled by career civil servants who are no better than the politicians in the West.
How sad but how inevitable!