I think regulation can make an important contribution to building trust. However, a distinction must be made between regulation by bitcoin and regulation for ICO. ICOs are almost dead at the moment and regulation would be an advantage for future projects.
This could take the form of certificates and it would not always be necessary to hand over full control to the state. However, I think a healthy form of regulation is good for the community.
Topic: Cryptocurrency and regulation, do we need it? - page 3. (Read 1106 times)
If you want to be legalize , you need government's regulation.
For me it's important because you have the advantage by let them legalize for example : you can see the demand for bitcoin will increase because you can use bitcoin as payment like fiat.
Meanwhile, my government still against crypto so it's impossible for my government to make regulation about it.
But, when bitcoin is legal, doesn't it mean that the decentralized system of bitcoin change? When it becomes legal, there will be regulation for bitcoin, when it does, government will be part of your 'private area', they will take control of your account; of your money; of you. So, I think there's no need regulation, unless there's a change in bitcoin itself. For me it's important because you have the advantage by let them legalize for example : you can see the demand for bitcoin will increase because you can use bitcoin as payment like fiat.
Meanwhile, my government still against crypto so it's impossible for my government to make regulation about it.
I agree with the author that there are two sides of regulation and there will always be those who embrace it and want to run a legal business and pay taxes. I'm more on the purists' side and believe that we don't need it and shouldn't fit BTC into the current system, just like Andreas said. We should leave it as an alternative to those who don't want to be watched and controlled by the big brother.
actually the regulation in bitcoin has a good effect, one of which we can feel safer because we feel we have entered the system of our government, we can pay taxes and of course we can avoid the perpetrators of crime, because we are very easy to report everything can happen to us, but for the perpetrators of crime must be very dislike of the regulatory system because they are afraid that the money from their crimes can be detected by the security apparatus, so all of it depends on our position, whether we are perpetrators of crime or not .. If you want to be legalize , you need government's regulation.
For me it's important because you have the advantage by let them legalize for example : you can see the demand for bitcoin will increase because you can use bitcoin as payment like fiat.
Meanwhile, my government still against crypto so it's impossible for my government to make regulation about it.
indeed bitcoin requires legality from the country we live in, but if this cannot be done then things like this should not be considered a barrier , because as long as bitcoin does not violate the law the word is still free to buy and sell bitcoin , indeed bitcoin cannot be used as a payment tool directly, but this is not a problem. don't be pessimistic , always forward thinking don't give up easily. For me it's important because you have the advantage by let them legalize for example : you can see the demand for bitcoin will increase because you can use bitcoin as payment like fiat.
Meanwhile, my government still against crypto so it's impossible for my government to make regulation about it.
I think, we need not any regulation, including banks, 'whales" etc. Now we can make small decentralized system. Governments must solve centralized problems for the first.
it's better to have cryptocurrency with that rule, as well as to the discipline of crypto users and to prevent people from using crypto scams and to avoid hacking. there is a better regulation to learn from the crypto users not to disobey.
Most governments favors regulation and this seems to be inevitable to happen in a country that want to put all finance and currency under their control. Control is necessary for the government so they can be able to run the economy and the whole nation into the right path. Scams, hackings,money laundering and other illegal activities that uses cryptocurrencies are some of the reasons why the authorities wants to impose some regulation on crypto exchanges.
from many reasons, I think of the most important rules in the regulation of each user transaction account and the investment pattern in the ICO, both of which are very important to regulate because conversion stimulants do not run transparently and without strong controls from investors and developers, even I want insurance to prevent things from happening worse, we really need that for consumer protection.
it's better to have cryptocurrency with that rule, as well as to the discipline of crypto users and to prevent people from using crypto scams and to avoid hacking. there is a better regulation to learn from the crypto users not to disobey.
Most governments favors regulation and this seems to be inevitable to happen in a country that want to put all finance and currency under their control. Control is necessary for the government so they can be able to run the economy and the whole nation into the right path. Scams, hackings,money laundering and other illegal activities that uses cryptocurrencies are some of the reasons why the authorities wants to impose some regulation on crypto exchanges.
The government has the point on pushing regulations with cryptocurrency for protecting its users from the possibility of financial collapse in the system. The regulations will ensure that users will be protected.
I definitely support the governments movement for it is for the good of the system and the its users. I do not know why some users in the forum do not agree with it.
its bullshit. the government provides regulation and legalization provided the users want to verify like id card verifitcation. so that the government can control it and give taxes when everything is ready. regulation is only for the benefit of the government. I don't really expect regulation to happenI definitely support the governments movement for it is for the good of the system and the its users. I do not know why some users in the forum do not agree with it.
I think we need no regulation - there are a lot of illegal deals without cryptocurrency. Government must find another way to control criminal elements.
You are right and before they would engage theirselves to crypto they should first resolved into the issues on where fiat currencies have done.They cant even stop those illegal stuff or transactionand now they are trying to regulated crypto as well,saying that it is prone to illegal matters like shady transactions and money laundering which they didn't even consider that fiat shady transactions is more rampant.
Crypto is for decentralization but hard to accept that if we would like to widespread its adoption we would really need to align with regulation.
I agree with you, the government still can not control illegal transactions in Fiat, and cryptocurrency is even more difficult. I think regulation of cryptocurrency at the government level is not necessary.
it's better to have cryptocurrency with that rule, as well as to the discipline of crypto users and to prevent people from using crypto scams and to avoid hacking. there is a better regulation to learn from the crypto users not to disobey.
I think we need no regulation - there are a lot of illegal deals without cryptocurrency. Government must find another way to control criminal elements.
You are right and before they would engage theirselves to crypto they should first resolved into the issues on where fiat currencies have done.They cant even stop those illegal stuff or transactionand now they are trying to regulated crypto as well,saying that it is prone to illegal matters like shady transactions and money laundering which they didn't even consider that fiat shady transactions is more rampant.
Crypto is for decentralization but hard to accept that if we would like to widespread its adoption we would really need to align with regulation.
I think we need no regulation - there are a lot of illegal deals without cryptocurrency. Government must find another way to control criminal elements.
For me there are no regulations, no binding rules, it is impossible to manage the country. It seems that those who do not want to be controlled will support the unmanaged. Or the criminals will be excited about this.
If you are the manager of a country, what do you think?
Maybe they will not let that happen
If you are the manager of a country, what do you think?
Maybe they will not let that happen
The government has the point on pushing regulations with cryptocurrency for protecting its users from the possibility of financial collapse in the system. The regulations will ensure that users will be protected.
I definitely support the governments movement for it is for the good of the system and the its users. I do not know why some users in the forum do not agree with it.
its bullshit. the government provides regulation and legalization provided the users want to verify like id card verifitcation. so that the government can control it and give taxes when everything is ready. regulation is only for the benefit of the government. I don't really expect regulation to happen I definitely support the governments movement for it is for the good of the system and the its users. I do not know why some users in the forum do not agree with it.
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For me, what is happening right now with price which declined drastically was due to some regulations particular on exchange sites like having KYC. The anonymity of a person has been exposed publicly, so if made anonymous traders became more hesitant with crypto investments. I am not yet in favor with that certain regulations, and maybe this has to be put into serious review before it will be fully implemented.
I agreed with what out said in terms of the cryptocurrency exchange KYC make some investors/traders not to put much fund into cryptocurrency and regulation the US SEC/Senior regulators ought to suppose to be prevention of scam ICOs but they choose to force control cryptocurrencies.Mind you, we still have some exchange site which are still anonymous.
For me, what is happening right now with price which declined drastically was due to some regulations particular on exchange sites like having KYC. The anonymity of a person has been exposed publicly, so if made anonymous traders became more hesitant with crypto investments. I am not yet in favor with that certain regulations, and maybe this has to be put into serious review before it will be fully implemented.
Regulation of cryptocurrency by the state is necessary, because regulation is part of the legalization of cryptocurrency. Without legalization and regulation of cryptocurrency, it will not be able to work on the territory of the state and be used by business structures. In this case, it can only be used by citizens and very limited. Therefore, we need regulation. Especially if the regulation is only in the order of circulation and use of cryptocurrency on the territory of the state. Regulation is good because the state, determining the status of a cryptocurrency, takes it under legal protection.
Yeah that’s there is no absolute freedom, we should also abide the law, we should abide the law, although bitcoin is anonymous and know boundaries, in a country with their own they will provide counter measure to insure the welfare of their citizens, which I believe if we look it in a positive outlook it isn't bad.
Regulation of cryptocurrency by the state is necessary, because regulation is part of the legalization of cryptocurrency. Without legalization and regulation of cryptocurrency, it will not be able to work on the territory of the state and be used by business structures. In this case, it can only be used by citizens and very limited. Therefore, we need regulation. Especially if the regulation is only in the order of circulation and use of cryptocurrency on the territory of the state. Regulation is good because the state, determining the status of a cryptocurrency, takes it under legal protection.
I do not think that there is a need to associate regulation with the negative impact!! In fact, regulation sometimes prove to be beneficial for the country because everything moves in a systematic and organized manner. So the environment of the crypto market, remains friendly for the community because there would be lesser scams and frauds. This way there would also be a controlling authority to look over the market conditions and regulate the acts of the market. Yes, we do need regulation unless it curbs the activity of the market in a negative manner.
For those of you interested, our author wrote another article on the issue of wash trading in crypto exchanges, which is also a highly debated topic. You can read it here: https://medium.com/xtechblog/crypto-exchanges-a-growing-divide-e0f2b3709f5d
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