Recent report from the Pennsylvania Department of Banking and Securities (PDBS) can single-handedly push the cryptocurrency four-steps back
“We are living in an age where traditional financial and investing
relationships are being transformed rapidly and sometimes in confusing
fashion by technology and innovation,” said Glenn E. Moyer, Secretary of
Banking and Securities. “It is especially important that investors
fully understand where they are putting their money, and with whom they
are investing it.”
Legal Criteria for a Safe Investment
Bitcoin was never launched as a vehicle to trade and make quick money at
first place. It was more about providing a medium via which two users
can exchange money cheap, and without requiring any third party. The
technology is the key factor why Bitcoin is booming in terms of both
user and mass adoption. Indeed, the arrival of manipulating trading
techniques are giving this entire sector a bad name. But the ultimate
aim of Bitcoin is to create a free and decentralized payment ecosystem.
Do not just use it for investment purposes, try creating a payment
medium out of it.
