Believing that more harm may come than good, does not equate to downplaying the benefit or legitimacy of some of the proposed regulatory efforts and legislation. But it is very important that we understand as much as possible, and question what we do not…this is especially true for lawmakers.
Admittedly, I have certain ideas about taxation and privacy relating to cryptocurrency, both of which are extremely relative, that may not necessarily conform with the views and ideas of the majority, but I have realistic expectations and possess common sense and I choose to abide by the law and will continue to do so.
While I am hopeful that such regulatory policies and proper legislation will help to deter criminals and further-legitimize cryptocurrency globally, I am also skeptical that many of the suggestions that are being made may adversely impact more honest people in the long-term, while having little-to-no impact on criminals that choose to circumvent the law.
Does that mean that such efforts are moot and/or should be dismissed? Not at all. But I feel that we may be at a critical point in history, and it is extremely important for everyone to be vigilant and to make careful considerations going forward. We should not be too quick to apply old thinking to new ideas, nor should we trust that our best interests will be equally-regarded.