alokashtikar

Most of the debate seems to be around "corruptible" politicians and how they want to control the financial system. Some purists in Blockchains are afraid of regulation it seems.

What does a world without regulation look like? In my opinion it is like playing with fire. It may cause forest fires or it may cook delicious meals.

In the interim, it is better to deal with a "known enemy" (personally I dont view regulation as an enemy). Decentralize regulation. If someone wants to create his own regulation, sure go ahead. Its just that your country's regulation may agree to trade with your regulation or may be not, based on what you have created. Negotiate well with your country's regulator, and get coins flowing across "your borders".

It is more synonymous to banks being hacked than Federal Reserve if at all. However, the idea is to have a secure system as much as possible.

By layering it with a secure regulatory system, we get what you are asking for. If you like, have an eight-day bank holiday (if your jurisdiction wants that).

If one voluntarily chooses to trade coins of "out of jurisdictional regulation part of the blockchain", the person will not be able to get those coins into the "regulated part of the blockchain". This is how the bridge between legal and illegal businesses would be broken.

I do not know about the cases you are referring to, as I am not a lawyer, nor an economist and not a statesman.

Within the reasonable countries (most part of the world) one should be able to trade legally, transfer the coins without violating laws of the involved jurisdictions. This would be possible even between different countries.

If you see through it, you will notice that you can create your own "Regulation" within / between a group of your counterparts. Its not taking away your freedom, its just breaking the bridge between legal and illegal businesses.

The regulatory nodes seem to have created quite a stir! I believe this stir is partly because it is being viewed as a central authority to control the blockchain. This is an incorrect understanding of the proposal.

The top node of the hierarchy of regulation can be created by anyone.

However, those who want to legitimately (within their jurisdictions) use blockchains to improve the experience of transfer of coins (not just money, could be equity as well) can use it with the regulatory framework of the country.

Also, we must not forget that unregulated blockchains are being used as a bridge to transfer money between the legal and the illegal businesses.

By adopting the regulatory nodes framework, the transfer of coins will happen only between (or within) "well intended" regulations.