The G7 summit is now behind us. Crypto experts hoped the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States would talk about bitcoin and other encrypted currencies. However, the titles of the meeting show that the subject "crypto" has been ignored.
At a previous G7 meeting, there was already talk of Bitcoin and digital coins. At that time, it was decided that each country was responsible for the regulation itself.
Anthony Pompliano was hoping a lot
Anthony Pompliano, CEO of Morgan Creek, recently spoke about the G7 meeting with Joe Kernen of CNBC in an interview. He said what he was expecting from the meeting for the crypto scene.
At first, he explained that he would admire Bitcoin. In just 10 years, the small money Internet has become a serious topic of discussion of this type.
In the past, many politicians have commented on Bitcoin. For example, Donald Trump wrote on Twitter that he was not a big fan of the digital piece. Finance Minister Steven Mnuchin and Secretary of State Mike Pompeo also shared their views on Bitcoin and other encrypted currencies.
Pompliano believes that future regulations will probably be adopted for those who allow the passage of the state to cryptocurrency. He thinks of the providers of portfolios and the cryptographic exchanges. He expects these new regulations to cause a lot of damage in the short term because they could deter people.
In fact, all the experts agree that the rules of the cryptography industry are a necessary evil. No one likes the government's prospects for control, regulation and taxation, but bitcoin needs to build legitimacy to move the sector forward. This could be achieved through guidelines for cryptocurrencies.
Pompliano remained positive during the interview. Regardless of the regulations that the G7 could develop, "this could ultimately generate a net profit for Bitcoin over a long period of time".
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Corinna is the editor-in-chief of Coinwelt. Since 2016, his world is based around crypto-currencies and blockchain. No day goes by without Corinna being bored for not investing in Bitcoin the first day. She finds the international legal situation particularly interesting for currencies such as Bitcoin. For the future, she hopes for a positive attitude from lawmakers and clear laws on the treatment of digital parts.