German central bank says national rules would be hard to enforce
Joachim Wuermeling, a member of the board of Germany's Bundesbank, said national rules may not work for Bitcoin.
"Effective regulation of virtual currencies would therefore only be achievable through the greatest possible international cooperation, because the regulatory power of nation states is obviously limited," he told an event in Frankfurt.
I'm not even going to address whether this is the right or wrong approach because the idea of planning, implementing and rolling out global regulation is absurd.
What's the over/under on the timeline for implementing global regulation? 10 years? 20 years?
