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without forking blockchain and actually convince users to switch to your version, you cannot simply change properties and features of bitcoin. maximum a regulatory force could achieve is a split, newer 'whitehat' version and existing to go underground.
in current form bitcoin cannot be regulated and it seems officials get at least that point, unlike some on here
what they want/will regulate and tax is (fiat) money in and out. it seems pretty reasonable and certainly achievable as most fiat transactions are electronic. good luck figuring out closed door/cash deals, exactly just like with current, real money today.
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