Having solved the problem of global warming, the next paper I will be writing (in Japanese) will be about the relatively new Internet currency Bitcoin. This is a fascinating topic. I have been posting a couple of comments to the Reddit Bitcoin community and plan to post some of my thoughts here as well.
One of the risks for the long term prospects of the Bitcoin network is that governments may react in a hostile manner. Until now, the project has been flying under the radar of regulation. For example, the relevant EU Directive 2009/110 on the taking up, pursuit and prudential supervision of the business of electronic money institutions could not possibly have been enacted with Bitcoin in mind, since Bitcoin didn’t exist in 2009.
For the time being, any analysis of Bitcoin related law will have to look how existing general rules are applied to this new currency.
But that will very likely change. And one of the risks is that Bitcoin may become illegal. That means there is a need early on to think about what kind of legislation should be enacted in that field.
Anyway, I am just starting out here.