Topic: Cryptocurrency regulation? - page 4. (Read 21769 times)
HORROR! In Vietnam, the circulation of crypto-currency
The State Bank of Viet Nam amended the country's monetary policy, according to which circulation of bitcoin and other crypto-currencies will become illegal from January 1 of the next year. Violators face a fine equivalent to $ 9 thousand. This is written by Blockexplorer.
It is very difficult for Bitcoin to be legalized by governments, Singapore banks refused to recognize Bitcoin.
Not only Singapore government there are many countries not legalizing the Bitcoin and at the same time they are not telling we are going to ban the Bitcoin. It means that still there is a chance for accepting a Bitcoin.
Absolutely consistent with your arguments
Why wouldnt it need a regulator? its money, or course it should be regulated if it is to be used within the borders of a gov that already has a fiat (read:99% or functioning governments). as much as everyone wants to have all the freedoms in the world, you dont want a world with unregulated bitcoin. bitcoin can be used to fund some gnarly shit, like terrorism or sex trafficking. Criminals are always looking at ways to subvert capital controls; bitcoin is pretty much that in a giftbox.
They regulate the milk you drink, depending on where you live. why the hell wouldnt they regulate actual money
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
Why wouldnt it need a regulator? its money, or course it should be regulated if it is to be used within the borders of a gov that already has a fiat (read:99% or functioning governments). as much as everyone wants to have all the freedoms in the world, you dont want a world with unregulated bitcoin. bitcoin can be used to fund some gnarly shit, like terrorism or sex trafficking. Criminals are always looking at ways to subvert capital controls; bitcoin is pretty much that in a giftbox.
They regulate the milk you drink, depending on where you live. why the hell wouldnt they regulate actual money
To be viable, any currency, whether emitted by a computer program of crypto currency or a traditional "fiat" currency issued by the government, must win the trust of the community that uses it. For the advocates of crypto currency, the whole point is to suggest an alternative model of this trust. They promote a payment system where recipients no longer need to trust outside institutions, be they banks or governments, to ensure that the payer is able to provide the agreed funds. Instead, the crypto-currency systems give credence to an indestructible decentralized computer program, unable, theoretically, to deceive people.
Crypto money does not need an arrangement, but governments need to arrange crypto money. Governments are there to organize everything and to make appropriate laws and to enforce these laws. It is unthinkable for the governments to ignore the crypto money that is increasingly proliferating every day, which is a big appeal today. Governments will regulate the Crypto money, at least organizing crypto money for tax collection.
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
Why wouldnt it need a regulator? its money, or course it should be regulated if it is to be used within the borders of a gov that already has a fiat (read:99% or functioning governments). as much as everyone wants to have all the freedoms in the world, you dont want a world with unregulated bitcoin. bitcoin can be used to fund some gnarly shit, like terrorism or sex trafficking. Criminals are always looking at ways to subvert capital controls; bitcoin is pretty much that in a giftbox.
They regulate the milk you drink, depending on where you live. why the hell wouldnt they regulate actual money
Google Chrome introduces the Coinstorm crypto currency application, Cycec is already working with blocking technology, the accelerator is launched in Tokyo, the Singapore Central Bank is not going to implement crypto-exchange regulation, IT developers have received digital certificates at the ceremony in Dubai, the Bitcoin Core exchange will protect clients' funds from the consequences powerhouse SegWit2x.
Coinstorm - the world of crypto currency in the Google Chrome browser extension
Do you often use crypto-currencies and are afraid of sharp changes in their rates? The solution called Coinstorm will help to forget about the headache of constant monitoring of the crypto currency market, as it was developed taking into account the actual trends of the financial world.
Coinstorm - the world of crypto currency in the Google Chrome browser extension
Do you often use crypto-currencies and are afraid of sharp changes in their rates? The solution called Coinstorm will help to forget about the headache of constant monitoring of the crypto currency market, as it was developed taking into account the actual trends of the financial world.
The price of bitcoins can also be sensitive to the dollar rate, as the Trump administration takes steps in the tax reform. The budget resolution passed by the Chamber may allow the bill on the tax to pass through the Senate, without the need to secure the support of a majority of votes. In addition, the forthcoming preliminary reading of GDP can stimulate additional volatility, as well as the announcement of the candidacy of a new chairman of the Fed's board, which may happen in the near future.
It is very difficult for Bitcoin to be legalized by governments, Singapore banks refused to recognize Bitcoin.
yes it is a fact that a lot of illegal activity is directly related to the use and trading of cryptocurrencies. There is bigger potential to be use for market money laundering and easy for the organize crime to move is funds. However we cannot directly point the finger to the digital coins. They have also a lot "goodness" potential to contribute to the world. Therefore the position/statement of the Central Bank of Singapore related to the digital coins is the most correct at this moment, in my personal opinion.
it seemed to me that the crypto-currencies were invented in order to avoid regulators, to reduce the commission, and to make transparent all transactions
Bank of America filed three patent applications for the use of blocking technology to track and validate the identity of users, and validate changes in the identity of users. 
Is it possible to track Monero users for example? Or any other crypto with technology of high anonimity? Zcash also.Zcash is designed to be anonymous
How can you blame cryptocurrency is that people use them for illegal purposes. Bitcoins are only 1% of the population. 99% use Fiat. There is no point in asking which is more used in illegal transactions Fiat or cryptocurrencies. May be to prohibit Fiat money? Lol! State attempts to regulate the cryptocurrency market is only the desire to take our money.
Some country decide to regulate bitcoin mostly for security reason. For example, the government able to control bitcoin supply or even trace down bitcoin transaction or apply tax every time people use bitcoin.
I think China will regulate bitcoin and will able to use bitcoin once again !
governments around the glove is trying to regulate - failed (yet).
Bank of America filed three patent applications for the use of blocking technology to track and validate the identity of users, and validate changes in the identity of users.
Is it possible to track Monero users for example? Or any other crypto with technology of high anonimity? Zcash also.
How can you blame cryptocurrency is that people use them for illegal purposes. Bitcoins are only 1% of the population. 99% use Fiat. There is no point in asking which is more used in illegal transactions Fiat or cryptocurrencies. May be to prohibit Fiat money? Lol! State attempts to regulate the cryptocurrency market is only the desire to take our money.
One of the key stakeholders for regulation are obviously the states and the executives of central banks. Thus it is interesting to pay attention at what they say and Singapore has recently indicated they are not in favor of regulation.
"The chief of Singapore's central bank has indicated it will not regulate cryptocurrencies, but plans to stay watchful on the risks posed by the technology.
In an interview with Bloomberg, Ravi Menon, managing director of Monetary Authority of Singapore (MAS), said he currently sees "no basis for wanting to regulate cryptocurrencies," adding:
"It is a known fact that cryptocurrencies are quite often abused for illicit financing purposes. And so we do want to have anti money laundering controls, countering the financing of terrorism controls in place. So those requirements apply to activity around cryptocurrency rather than the cryptocurrency itself."
According to Menon, the central bank is working on to "formalize" rules for digital currency intermediaries like exchange operators in order to curb money laundering and other criminal activities. "
Full: https://www.coindesk.com/singapore-central-bank-chief-no-regulation-for-cryptocurrencies/
"The chief of Singapore's central bank has indicated it will not regulate cryptocurrencies, but plans to stay watchful on the risks posed by the technology.
In an interview with Bloomberg, Ravi Menon, managing director of Monetary Authority of Singapore (MAS), said he currently sees "no basis for wanting to regulate cryptocurrencies," adding:
"It is a known fact that cryptocurrencies are quite often abused for illicit financing purposes. And so we do want to have anti money laundering controls, countering the financing of terrorism controls in place. So those requirements apply to activity around cryptocurrency rather than the cryptocurrency itself."
According to Menon, the central bank is working on to "formalize" rules for digital currency intermediaries like exchange operators in order to curb money laundering and other criminal activities. "
Full: https://www.coindesk.com/singapore-central-bank-chief-no-regulation-for-cryptocurrencies/
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
Virtual money is just based in the value of the coin given by the people those who trust the system of blockchain!But does virtual money need a REGULATOR?
If there is nothing in the world that would break the chain or disrupt it than everyone else will also be able to trust the Virtual money,
It goes as in big brands as well!
at first the iphone was just another phone with ununderstndable features which was trusted by a few number of people but see nowadays
No doubt about the future of fiat money: it's gonna be replaced by cryptocurrencies.
But does virtual money need a REGULATOR?
But does virtual money need a REGULATOR?
I dont believed that fiat will be replaced by the digital currency because not all people know how to use bitcoin transactions. Most of the people specially from the 3rd world countries dont even know how to use the computers due to poor education but i support the regulations because i believed it will protect the use of digital currency from bad elements like the money laundering in which it may harm the people and put the nation at risk if every local transaction cannot be monitored.
The answer is, even if it needs a regulator, who will be? Because, it started as decentralized, nobody wants to break it, everybody loves the idea. Technically, it may even be impossible (I don't know much about the technical aspects though). I think current fork is also slightly, if not totally related about this. People reject even if there is a slightest sign of authorization.
I think you are mistaken. I read a lot of posts on the forum where people themselves want the government to set transparent rules for the use of cryptocurrency. I do not share this idea, but what a lot of people wishing this fact. It seems to me that people don't understand the idea of creating a bitcoin and therefore think. It seems to me that any state intervention can turn a bitcoin into electronic Fiat. It will be the end of bitcoin.Jump to: