Topic: Are there regulatory bodies for the crypto space? - page 2. (Read 274 times)
While it certainly is legitimate to ask this kind of question, but how do you yourself think that this regulation should look like or should be enforced? Regulation mostly comes with the price of centralization, at least if you want to ensure flexibility and the ability to quickly respond (adapt) to situations.
Unfortunately there is none and for the fact that it is mostly decentralized in operation it makes it difficult for regulatory bodies to come in and hence the high risk. I am particularly concerned about the proliferation of ICO's and new projects with majority turning out to be a scam at the end of the day
It seems to me that crypto space is the area of responsibility of certain government agencies, including regulatory and law-enforcement bodies. They will probably soon designate a special body to be focused on crypto space both in every country and globally.
Are there any regulatory bodies in the crypto space to regulate the activities of cryptocurrency founders, trading and verifying legitimacy of the ICOs to avoid scam and protect investors from scam and more?
Generally none. That's not how crypto should be.
On the other hand, different countries have their own regulations about cryptos.
For ICOs, since they are business, it's important to check if they are a registered company on their country or at least find a legit aspects that the team behind are transparent. Or for much better, don't participate in ICO without any knowledge and understanding the risks. That's how risky joining ICO.
Crypto's very foundation lies on decentralization. A centralized body that would make decisions for everyone else is completely against that. Nothing of the sort will ever be formed within the crypto space and I'm sure any attempt would be widely ostracized.
The SEC and other similar government bodies do some of those things, but they're very much outside of the crypto space.
The SEC and other similar government bodies do some of those things, but they're very much outside of the crypto space.
Up to now, as I know, there is no specific body that handles ICOs, publishes or provides guarantees in the event of fraud. but I hope in the near future there will be a governing body.
Are there any regulatory bodies in the crypto space to regulate the activities of cryptocurrency founders, trading and verifying legitimacy of the ICOs to avoid scam and protect investors from scam and more?
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