Typically governments are very slow to regulate new technologies however Bitcoin and Uber are now coming under increasing pressure.

The Bitcoin issue is very worrying, or at least it should be for those who have money invested. At the end of the day the Bitcoin has zero intrinsic value and is not guaranteed by any regulation or reserve funds. If ever there was a "bubble" it is this. Those who entered early and get out now will have made a lot of money but the moment the value starts to drop there will be a run which will cause an overnight collapse of values.

As far as Uber is concerned the answer is very simple. It is just a matter of passing a regulation that states that all drivers of any such service should have a taxi driver's licence and that the vehicle conforms to the same regulations for safety and insurance, and pays the same tax, as a taxi. End of story. Uber should then be able to operate in the same way as any other taxi or hire car service.


Peter

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