Deloitte: It’s too soon to try and regulate bitcoin

Regulation | November 11, 2015 By:

Multinational professional services firm Deloitte explored whether regulating bitcoin could potentially have a negative impact on its future development and potential to reach mass adoption.

“In most respects, while policy makers and regulators are acting in accordance with their mission statement to protect the public and the integrity of the financial markets, an important question comes to the fore – is it too soon to try and regulate bitcoin?” said Deloitte.

According to Deloitte there is strong historical evidence which suggests that allowing new technologies to develop without interference is initially the best course of action.

“Bitcoin is receiving a remarkable amount of attention and scrutiny from policy makers and regulators all around the world – far beyond what its current scale and market impact would seem to justify. In fact, by any relevant benchmark, the value currently at risk with bitcoin is just a drop of water in the ocean that is the financial industry,” added Deloitte.