Bitcoin is not just a currency for drug mafia, but has the potential to be the foundation for future finances. Japan recognised Bitcoin as legal tender in 2017. Coin base is a US-based cryptocurrency exchange. It is set for an initial public offering in 2021. Europe has also developed crypto regulations that allow banks to sell cryptocurrencies.
The right set of regulations would require a few iteration. It is not possible to have the perfect regulations in the very first attempt. The technology keeps on evolving.
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