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Another cry for regulation from one of the world’s largest financial services firms. Regulation shouldn’t be viewed as a way to prevent ease of business, rather a way of assisting it. In the words of Mastercard, it not only is a way “to prevent criminal activities.. [but also to ensure] safety, stability and reliability for consumers.” Australian regulators need to factor in the danger of losing valuable up and coming Fintech organisations to more flexible overseas regulators and tax regimes.

In essence, due to major innovations in mobile technology and the ever growing rise of internet consumption, mobile payments are certainly the future. Internet use via a mobile device accounts for 55% of the world’s consumption and in the words of Brain Tree’s CEO, Bill Ready, "Bitcoin can insert seamlessly in a digital wallet in a way that a plastic card can't."

This announcement is a great step forward in ensuring mass adoption, not just in the form of the larger well known merchants, but also the sole traders and SME’s, which could allow for individuals to purchase everyday necessities with their Bitcoins.

This is avery tough stance taken by the central bank of Bangladesh. With the proper controls and procedures, like the ones common within the UK, cryptocurrencies shouldn’t be treated any differently to  any other fiat currency. This strengthens the need to regulate the currency in line with traditional methods and utilise the benefits that cryptocurrencies bring to the world.