The theme of digital currencies in 2018 will be regulation
The regulators are coming.
I wrote earlier this month that that cyptocurrencies versus the SEC will be the great battle of 2018. But it's not just US regulators that are getting into the mix, regulators elsewhere are as well.
Australian Minister of Justice Michael Keenan said Thursday that it will bring Bitcoin and other cryptocurrency providers under the government's financial intelligence unit.
He cited money laundering as a key reason for a broader scope of new rules, which will also stop people from paying millions in cash for precious stones or a prime property without having to identify themselves or the source of their funds. Australia had promised to change those rules as early as 2003 but has yet to follow through.
