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The United States Is Falling Behind in Bitcoin Regulation

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Lawmakers and regulators in a United States could be doing a most improved pursuit attracting innovative fintech startups to a country, Coin Center Executive Director Jerry Brito pronounced during a new cryptocurrency-focused event hosted by a Cato Institute.

Although a United States started out as a personality in Bitcoin regulation, it is now descending behind other jurisdictions, such as a United Kingdom, where creation in fintech and digital banking is being embraced with open arms.

The U.S. Has Been a Leader in Bitcoin Regulation

In 2013, a U.S. Senate hold a first hearings on Bitcoin. In that same year, FinCEN expelled a initial announcement by any supervision group associated to a technology. The IRS was also a initial taxation group in a universe to clarify a taxation diagnosis of Bitcoin and other digital currencies. Additionally, BitLicense in New York was a initial chartering regime in a universe destined during digital currencies.

“Although positively imperfect, any of these pronouncements brought clarity and certainty to an rising industry, and these approaches were copied around a world,” Brito pronounced during a Cato event.

Other Countries Are Going Further

Brito also remarkable that a United States’ purpose as the

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