Who’s Afraid of the Big, Bad Bitcoin?

I have said before that I believe that some degree of government regulation, at least of the businesses surrounding Bitcoin, is essential if the crypto-currency is to fulfill its potential. In part, this is because it will give some protection to the more gullible investors who may enter the fray from those whose sole aim is to rip them off.
Limited regulation would also have another benefit; it would allow governments to convince themselves that they are doing something, while leaving the basic structure and integrity of Bitcoin intact. The attempts by some governments, however, to ban or criminalize digital currencies is not just wrong, it is also stunning in its arrogance and stupidity.

This post was published at Nasdaq on September 23, 2014.