1. Policing of onramps and offramps
With multiple federal regulatory agencies having outlined their mandates in the bitcoin and blockchain space and laid down how they intend to treat digital currencies, we are increasingly likely to see 'regulation by enforcement' these year.
2. Spotlight on terror financing
In the wake of the tragic terrorist attacks in Paris, there understandably has been increased focus by governments and the media on the ways that terrorists communicate and move money.
Some of that attention has been directed at bitcoin and other digital currencies.
Still, governmental authorities have recognized that the traditional financial system presents at least as high, if not a much higher, risk.
3. Scrutiny of blockchain applications
This year has seen an explosion of blockchain-related activity among 'traditional' financial services institutions, developing applications for either the bitcoin blockchain or for proprietary blockchains or blockchain-like systems.
Blockchain-based applications have the potential to reduce transaction fees and other frictional costs, and to improve compliance efforts by the inherently transparent nature of the blockchain's decentralized and immutable record of transactions..
However, as more 'traditional' service providers move to blockchain-based applications, look for regulatory agencies in particular to stake out their territory, first through surveys and informational meetings, but then through targeted investigations and perhaps even enforcement actions.
4Bitcoin's reputation improved
Last year October, a broad coalition of industry representatives, led by the Chamber of Digital Commerce and Coin Center joined forces to create the 'Blockchain Alliance', a public-private forum to help combat criminal activity involving bitcoin and the blockchain.
The Blockchain Alliance serves as a resource for law enforcement to benefit from the expertise of some of the brightest minds in the blockchain industry for technical assistance in response to challenges faced during investigations.
