Australia will not regulate Blockchain and Cryptocurrency

[CryptoGirl]

Australian central bank Reserve Bank of Australia’s (RBA) Payments Policy Department officials said that the cryptocurrencies and their underlying Blockchain technology do not pose urgent regulatory issues so far. And that the central bank will not support any efforts to regulate the core protocols making up the Blockchain networks.

"The distributed and cross-border nature of digital currencies like Bitcoin means that regulation of the core protocols of these systems is unlikely to be effective. From the Bank's payments policy mandate, digital currencies do not currently appear to raise any pressing regulatory issues.”

https://www.rba.gov.au/speeches/2017/sp-so-2017-10-27.html

[Femhabe]

I agree with the Australian government, instead of trying to regulate a decentralized system, why not take more effort into adopting the usefulness of that system instead.