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Topic: Bitcoin evangelist Michael Saylor says crypto regulations would speed adoption - page 4. (Read 570 times)

legendary
Activity: 4410
Merit: 4766
Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.


I totally agree with Michael Saylor's statement.
In fact, if the government can't regulate Bitcoin, they will be forced to stop it. Because no government of any country would want to let their people go unchecked.

So, in the interest of adopting Bitcoin Vastly, its regulation is very important. But I think no matter how hard the government tries, regulating Bitcoin will never be 100% effective if the people don't want it. Because you know Bitcoin is creatively pseudonymous.

they tried to regulate gold. didnt work
they tried to regulate alcohol. didnt work
they tried to regulate drugs.. didnt work

all they can regulate is businesses that use such things
legendary
Activity: 2338
Merit: 1023
DGbet.fun - Crypto Sportsbook
Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.


I totally agree with Michael Saylor's statement.
In fact, if the government can't regulate Bitcoin, they will be forced to stop it. Because no government of any country would want to let their people go unchecked.

So, in the interest of adopting Bitcoin Vastly, its regulation is very important. But I think no matter how hard the government tries, regulating Bitcoin will never be 100% effective if the people don't want it. Because you know Bitcoin is creatively pseudonymous.
legendary
Activity: 4410
Merit: 4766
this is not about regulating bitcoin.
its about regulating businesses that offer bitcoin services. (exchanges)

take for instance the delays of offering a ETF, or where some small banks freeze accounts because they were told 10 years ago to be wary of people moving funds to/from known exchange owned accounts
legendary
Activity: 3472
Merit: 10611
I'm afraid it is more complicated than that. Basically I'd say it depends on the regulations and how restrictive and terrible they are. For example Japan and El Salvador both regulated bitcoin and that led to an increase in the speed of adoption. But if we see restrictive regulations as US loves to implement and they end up with huge taxation, a lot of nonsense intrusive KYC and things like that, it could actually slow down adoption, at least in US.

But as I said things are a lot more complicated than that. The more restrictions could actually backfire and it could push more people towards bitcoin specially as US dollar keeps tanking and inflation soars. If we see another recession then bitcoin adoption could also go through the roof with US dollar value dumping harder than ever.
full member
Activity: 2142
Merit: 183
Of course, the legalization and acceptance of cryptocurrency can be carried out by states only through reasonable regulation of its circulation in society. Investors are reluctant to invest heavily in a financial asset without its legal status, so even tight cryptocurrency regulation is better than a long period of uncertainty. In addition, we see that cryptocurrency reacts very painfully to the prohibitions of states regarding cryptocurrency, and even to information about the possible introduction of a ban, with a sharp drop in prices. In the future, regulation may be weakened or tightened, but the very fact of legalization by establishing a certain legal status of the cryptocurrency and the conditions for its circulation is very important.
hero member
Activity: 2800
Merit: 595
https://www.betcoin.ag

6 years ago it was the other way around because every time a government will be announcing thier coming crypto regulation, the prices of cryptocurrencies are plummeting. It's different these days. When I've read about Biden regulation on my feed I watched the market for hours thinking price could plunge a bit to finally see RSI to its oversold. Price didn't dip a bit.

It could be true because after all regulation will ease the mind of investors who are skeptical with Bitcoin.  What is bothersome is that IMF is cracking down Bitcoin as legal tender while Biden is regulating.
jr. member
Activity: 40
Merit: 4
Here we can say without a doubt. Most of the regulations have been made with the status of the exchanger and as more regulations come it will change and take on new forms.
Again if the people around are not satisfied with the regulations, there will probably be a way to get around them without too much hassle or they will be able to do them with a small amount of crypto.
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
He somewhat has a point. I'm guessing that some institutional investors are very undecided with bitcoin/crypto is due to the regulatory uncertainty. Simply having clearer regulations regardless if positive or negative will give them a better assessment if bitcoin would be a "good" investment or not risk/reward-wise.
copper member
Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
Most regulations have been targeted at exchanges and exchangers imo and I don't think that'll changr with more regulations coming in.

If people aren't happy with regulations, there will probably be ways to get around them without too much hassle or they might be able to just go ignored for those too with smaller amounts of crypto and go fairly unnoticed.
hero member
Activity: 2478
Merit: 695
SecureShift.io | Crypto-Exchange
Tighter government crypto regulations would actually be a positive catalyst for bitcoin, MicroStrategy co-founder and CEO Michael Saylor told CNBC on Wednesday.

"Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on "Squawk on the Street," stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange."

U.S. Securities and Exchange Commission Chairman Gary Gensler said last month that the agency is planning to crack down on Wall Street, including by creating and enacting rules for cryptocurrency markets. Back in August, Gensler said Congress needs to grant the SEC additional powers to regulate crypto.

Source

Is this where we are heading! Without regulations from the government, btc will never be able to achieve the so desirable adoption, if people like Saylor is publicly calling for regulations it means soon we will witness it, what do you guys think would happen, and what about btc maxis who are strongly in support of decentralization and privacy, will they be willing to give that regulation in other to use btc?
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