Topic: Bitcoin and its trading on exchanges. (Read 162 times)
In my opinion bitcoin is develop for a decentralized system so countries needs to regulate the field but implement the rules that make this field more centralize will make this like other fiat currencies ,
So we know the advantages of decentralized financing advantages and in future law makers considering to implements its benefits in the circle of organization.
Every countries has their own regulation, there's a country declare Bitcoin is illegal, there's a country doesn't declare anything and not strict the usage aka grey area, there's a country which accept Bitcoin as commodity and there's a country accept Bitcoin as legal tender.
Most of big exchanges has follow regulation and has a license, although it's not came from SEC instead of the local country where the exchange operated. I don't think they will ban the whole exchanges which doesn't regulated by SEC, if it's happen it will cause a lot panic since many people think Bitcoin can't be traded anymore. The reason they're panic is, they're leave their coins on the exchanges.
Indeed there are several countries that prohibit Bitcoin as a medium of exchange and investment assets or even any type of transaction.Most of big exchanges has follow regulation and has a license, although it's not came from SEC instead of the local country where the exchange operated. I don't think they will ban the whole exchanges which doesn't regulated by SEC, if it's happen it will cause a lot panic since many people think Bitcoin can't be traded anymore. The reason they're panic is, they're leave their coins on the exchanges.
However, with the development of the era and technology, some of these countries have thoughts of legalizing Bitcoin and utilizing the crypto industry as state income by imposing taxes on every transaction or trading platform for crypto in the country.
If there really is a fear that bitcoin can no longer be traded within a country, then there are still several ways to be able to enter the crypto buying and selling platform to make transactions without the country's government knowing and detecting it.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
If exchanges gives theirbown reasons as excuse from trading bitcoin then i think we just got fulfilled because bitcoin has already been waiting for that opportunity that could take off the effect of centralized exchanges from the network since it brongs about misconception on newbies with other cryptocurrencies present, we cannot also in the same way expect bitcoin to corporate liason with the exchanges or other form of asset or commodities because it is digital but not only that but what gives bitcoin the super edge is the decentralization which other commodities aren't possessing, which means bitcoin is self dependent while others are not, if centralized exchanges ban bitcoin because of the pressure recieved bitcoin is more better because of p2p.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
We will either move to the decentralized exchanges where nobody gives a fuck about any rules/regulations or we will have to swallow this one up.
Tbh I think regulations will do more harm than good to crypto. The SEC don't even do their job right. There are many manipulations happening in the stock markets right in front of everybody and the SEC don't give a damn about it. Why would they care about crypto when they don't care about stocks? It is all a massive buzz.
Every countries has their own regulation, there's a country declare Bitcoin is illegal, there's a country doesn't declare anything and not strict the usage aka grey area, there's a country which accept Bitcoin as commodity and there's a country accept Bitcoin as legal tender.
Most of big exchanges has follow regulation and has a license, although it's not came from SEC instead of the local country where the exchange operated. I don't think they will ban the whole exchanges which doesn't regulated by SEC, if it's happen it will cause a lot panic since many people think Bitcoin can't be traded anymore. The reason they're panic is, they're leave their coins on the exchanges.
Most of big exchanges has follow regulation and has a license, although it's not came from SEC instead of the local country where the exchange operated. I don't think they will ban the whole exchanges which doesn't regulated by SEC, if it's happen it will cause a lot panic since many people think Bitcoin can't be traded anymore. The reason they're panic is, they're leave their coins on the exchanges.
Where am I wrong?
US and their futures market is not the only place where you can trade commodities. Its just the biggest market so its preferable by biggest players. But you, as individual, can buy/sell commodities using any other centralized identity/institution.
There is MCX - Commodity Exchange of India
LME - London Metal Exchange
TOCOM - Tokyo Commodity Exchange
And dozens more, like >50. - https://en.wikipedia.org/wiki/List_of_commodities_exchanges
So its not like that. Its not like bitcoin is a commodity so US can stop all CEXes from trading it until its regulated as oil is. Its more like, when bitcoin will be regulated, it will be available to trade where oil/gold is available now.
I mean ... you can buy 10 tones of coal from local reseller who will load it on his truck and deliver to your home so you can warm it in winter. This guy does not need a licence from US to sell it to you.
More regulations are coming but they won't ban it but indeed will try to make more barriers as protective layers for their citizens against scammers, not against Bitcoin.
The stuff they call protective layers for citizens are in fact more like protective layers for Fiat and barriers for Bitcoin's development. Ban or not, the regulations they have so far put out in the wild are mostly a burden put on the back of citizens to carry. Show me a law that made things better and easier for Bitcoin holders. I expect they are going to put out some regulations turning things upside down, pretending we are all guilty of something and having to some how explain why we are innocent.Remember. Most of the world countries have a governing body consisting of rather old people leading. Most of them have no idea how Bitcoin works. And politicians and regulators who know how Bitcoin works are against it for the most part.
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Regards,
PrivacyG
They won't ban Bitcoin and in the USA, at their Capitol Building, there are more supporters for Bitcoin than protesters against it.
More regulations are coming but they won't ban it but indeed will try to make more barriers as protective layers for their citizens against scammers, not against Bitcoin.
If they don't ban gold, Internet, gambling, cannabis (recreational) , no reason why they will go with a ban on Bitcoin and its trading on exchanges.
It is like we go back to the past about 100 years ago when banning the Internet looks very reasonable.
Scams exist in gold tradings, Internet e-commerce, gambling and cryptocurrency is a newest industry that is compromised by scammers. Internet, Bitcoin and blockchain serve human, give them freedom and wealth.
Perhaps they will launch laws to have clearer definitions and guidelines on cryptocurrency audits that can help more Big Audit companies to join and do their deals with big exchanges for audit contracts.
More regulations are coming but they won't ban it but indeed will try to make more barriers as protective layers for their citizens against scammers, not against Bitcoin.
If they don't ban gold, Internet, gambling, cannabis (recreational) , no reason why they will go with a ban on Bitcoin and its trading on exchanges.
It is like we go back to the past about 100 years ago when banning the Internet looks very reasonable.
Scams exist in gold tradings, Internet e-commerce, gambling and cryptocurrency is a newest industry that is compromised by scammers. Internet, Bitcoin and blockchain serve human, give them freedom and wealth.
Perhaps they will launch laws to have clearer definitions and guidelines on cryptocurrency audits that can help more Big Audit companies to join and do their deals with big exchanges for audit contracts.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
The centralized exchanges will get whatever license required for the regulations of government because its ultimately profitable business and I don't think exchange will lose it in a way just like that.Apart from exchanges we can also trade on other platforms especially p2p so the price may become higher with such regulations and its good for the investors.
Where am I wrong?
US and their futures market is not the only place where you can trade commodities. Its just the biggest market so its preferable by biggest players. But you, as individual, can buy/sell commodities using any other centralized identity/institution.
There is MCX - Commodity Exchange of India
LME - London Metal Exchange
TOCOM - Tokyo Commodity Exchange
And dozens more, like >50. - https://en.wikipedia.org/wiki/List_of_commodities_exchanges
So its not like that. Its not like bitcoin is a commodity so US can stop all CEXes from trading it until its regulated as oil is. Its more like, when bitcoin will be regulated, it will be available to trade where oil/gold is available now.
I mean ... you can buy 10 tones of coal from local reseller who will load it on his truck and deliver to your home so you can warm it in winter. This guy does not need a licence from US to sell it to you.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
Well, the truth is that if Bitcoin is banned on centralized exchanges the price will rise significantly because it's good development for Bitcoin... Good development makes it bullish.
Bitcoin has been "reconfigured" to react properly to news since it was captured in 2021 by those who mean well. The good news that will make it rise more significantly is when more people are trading it in decentralized peer-to-peer manner.
Whatever they choose to call it doesn't really matter much so long as it's not true. The fact is that it's a decentralized system with an internal currency called Bitcoin.
If the SEC recognizes the cryptocurrency as a share, then after that the project is closed. But I have not yet seen cases of cryptocurrency being recognized as a commodity.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
Well, the truth is that if Bitcoin is banned on centralized exchanges the price will rise significantly because it's good development for Bitcoin... Good development makes it bullish.
Bitcoin has been "reconfigured" to react properly to news since it was captured in 2021 by those who mean well. The good news that will make it rise more significantly is when more people are trading it in decentralized peer-to-peer manner.
Whatever they choose to call it doesn't really matter much so long as it's not true. The fact is that it's a decentralized system with an internal currency called Bitcoin.
This year promises to be a year of big regulations from the SEC and the Commodity Futures Trading Commission. If bitcoin is recognized as a commodity, then it should be traded under the same rules as oil, gold and other similar goods. Therefore, bitcoin may be banned from trading on many crypto exchanges until these exchanges receive the necessary licenses.Where am I wrong?
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