Against Autonomous Vehicle Regulation

think that VCs are hard to regulate and monitor, as they involve different entities locally and internationally, most of the outside the traditional monetary system. Some regulators have started to respond to this issue. The regulators have developed several approaches, which include the possibility of applying the existing legislation to VCs, issuing warnings to consumers, enforcing licensing obligations on certain VC market players, banning financial institutions from dealing in VCs, completely prohibiting the usage of VCs, and suing abusers. However, these regulations are in early stage, and regulators should think more innovatively to address their concerns without harming the ongoing innovation (European Central Bank : Virtual Currency

The autonomous vehicles simply will not make parking or red light violations. These vehicles will not also be a subject of driving under the influence (DUI). Autonomous vehicles will not get a speeding ticket. Thus, hundreds of millions of dollars or even billions of dollars created from poor human driving habits and behaviors, which are one of the main funding source for transportation infrastructure, public schools education system, and many other public services, will not be there for local governments. Moreover, taxes and fees collected on fossil fuel and CO2 emissions will face the same fate as the ones related to parking and red light violation. Basically, the autonomous vehicles are ecofriendly. Local governments will ultimately lose various traditional revenue sources and have to think how they will compensate such revenues or find alternatives (Kevin C. Desouza et al., 2015) (Amy H. Auchincloss et al.,

Now, this is not the case anymore. According to a recent report by the Federal Aviation Administration (FAA), the drones sales is expected to grow by 180% over the coming three years, from 2.5 million drones in 2016 to 7 million drones in 2020. The drones became on the top list of the holiday purchase, as its sales jumped by around 450% in the 2015 holiday season in the United States (Shen, 2016).
Moreover, the size of the drone industry is expected to reach $12 billion in 2021, out of $8 billion in 2015. The commercial and civilian drones will account for $3 billion out of few hundred millions in 2015, while the defense drones will present $9 billion. The upsurge of commercial and civilian drones’ sales is due to the anticipated price competition and the evolving technologies, which will make drones easier to be operated by the beginners. Also, it is clear that this emergent industry is not waiting for the governments to articulate and enforce regulations, as the ecosystem of this industry, which is formed mainly by small companies and startups, is already there and prepared to supply the market. This has forced the large corporations and defense-based enterprises to start investing in the drone technologies as well (Camhi,