Topic: Crypto regulation in the EU and the USA - page 2. (Read 290 times)

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Quote from: WeThePe0ple on September 17, 2022, 07:21:26 AM

People could say that it would kill crypto. Some channels on YouTube do.

YouTube channels say whatever for the views.
In reality, majority of crypto users do not care about their privacy or desire to keep their financial transactions away from he eyes of the government - "if you're not doing anything wrong you don't need to hide".
The minority users who value their privacy would avoid centralized exchanges and stick to decentralizated, P2P ones to avoid the regulations that come with CEX.

Quote from: WeThePe0ple on September 17, 2022, 07:21:26 AM

Others (me) could see this as an investment opportunity.

Care to tell how?

WeThePe0ple

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Can anyone give me an update about the latest news regarding crypto regulation?
I'm European.

The European Commission is the only body of the EU with the power to make laws.
They are currently trying to regulate crypto currencies via MiCA law (Market in Crypto Assets).
There is no transparency about the law, but certain aspects have been leaked. The EU wants exchanges to verify all transactions with regards to money laundering or fraud. Pretty much like the staff of banks either approve or disprove of your transaction.

I don't think this is realistic. It violates privacy of users and it also makes them prone to being hacked. The law is expected to be finalized in october of 2022. 4 weeks from now. If exchanges (coinbase, binance..) can not live up to these regulations, how will that affect the price of cryptos?

People could say that it would kill crypto. Some channels on YouTube do.
Others (me) could see this as an investment opportunity.

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