Jesse Powell, chief executive of Kraken, the world’s fourth largest virtual currency exchange by volume, warned in an interview with foreign media that governments may begin to step in to crack down on virtual currencies such as bitcoin.
Powell believes that governments may crack down on virtual currencies and that the virtual currency market continues to face a lot of uncertainty about government regulation, which is difficult to dissipate in the short term.
The report points out that the U.S. government recently proposed an anti-money laundering regulation that requires people who deposit their virtual coins in private digital wallets to undergo identity verification if the transfer amount reaches $3,000 or more.
Powell hopes that the United States and international authorities do not have too narrow a vision, other countries, especially China are very serious about virtual currencies, with a very long-term view to assess, blaming the United States than other countries short-sighted, so that traditional banks suffer losses due to missed opportunities.
Powell also said that it may be too late to ban virtual currencies, trying to ban them will only make them more attractive, because it is tantamount to sending a message that the government sees virtual currencies as a substitute for legal tender.
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