Bitcoin must charm regulators, says professor

A British business school professor believes Bitcoin needs to go on a charm offensive to win over worried national regulators.

AccessTimeIconMay 21, 2013 at 12:33 p.m. UTC
Updated Sep 10, 2021 at 10:46 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A British business school professor believes Bitcoin needs to go on a charm offensive to win over worried national regulators.

Professor of Practice at Warwick Business School Jon Rushman said Bitcoin could have a permanent role amongst world currencies but only if it wins over regulators.

Rushman told HedgeWeek:

“Bitcoin needs to work harder on explaining its philosophy and on regulation, they need to do a bit of a charm offensive with the regulators and make them comfortable with it while being true to their principles.”

The prof, a former MD at BlackRock, said it was possible to imagine Bitcoin, or something similar, having a place in the future.

Channelling John Lennon, Rushman said: "Imagine a world where foreign exchange doesn't exist, monetary policy doesn't exist, and there is no inflation. Society would be free to use all the talent currently directed to these issues elsewhere." He said governments would continue to raise taxes and borrow, but without "uncertainty as to the unit of account.".

Rushman said that although Bitcoin was tainted with criminal associations: "it is hard to find evidence that it is used any more than any other currency.".

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.